Reading+55+Understanding+Yield+Spreads英文文献资料

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1、CFAspaceProvidedbyAPFAcademyofProfessionalFinance专业金融学院CFALevelIFIXEDINCOME:UnderstandingYieldSpreadLecturer:NanChenFramework1.1InterestRatePolicyTools1.1InterestRatePolicyTools1.Yield1.Yield1.2Yield1.2YieldCurveCurve1.3TheoriesofTermSt1.3TheoriesofTermStructuructurreofeo

2、fInteInterestRrestRaatete1.4Spot1.4SpotRaRatete1.5Taxab1.5Taxablle-e-EquivalentYieldEquivalentYield2.1Yield2.1YieldSpreadMSpreadMeeasuresasures2.Yield2.YieldSSppreadreadEconEconomomicCicCoonnddititionionss==>>CCredrediittSSpprereadad2.2Fa2.2FactorsthctorsthatatAffectYield

3、AffectYieldSpreSpreadadEmbeddeEmbeddedOptidOptionsonsLiqLiquuididitityyananddIssIssuueSeSiizezeAcademyofProfessionalFinance专业金融学院Copyright©CFAspace.com1.1InterestRatePolicyToolsToolsActionInterestRatesOpenmarketOperationsBuytreasuriesDecreaseSalesoftreasuriesIncreaseDisco

4、untRateLowerrateDecreaseHigherrateIncreaseBankReserveRequirementsIncreaseIncreaseDecreaseDecreaseVerbalPersuasionEncouragelendingDecreaseAcademyofProfessionalFinance专业金融学院Copyright©CFAspace.com1.1InterestRatePolicyToolsEX1:WhichofthefollowingisleastlikelyatoolusedbytheU.S

5、.FederalReserveBanktodirectlyinfluencethelevelofinterestrates?A.Verbalpersuasion.B.Openmarketoperations.C.Settingtherateon30-yearbonds.CiscorrectbecausetheU.S.FederalReserveBank(Fed)usespolicytoolstodirectlyinfluenceshort-terminterestrates.Itonlyindirectlyinfluenceslong-t

6、erminterestrates.Themarket,nottheFed,setsrateson30-yearbonds.AcademyofProfessionalFinance专业金融学院Copyright©CFAspace.comFramework1.1InterestRatePolicyTools1.1InterestRatePolicyTools1.Yield1.Yield1.2Yield1.2YieldCurveCurve1.3TheoriesofTermSt1.3TheoriesofTermStructuructurreofe

7、ofInteInterestRrestRaatete1.4Spot1.4SpotRaRatete1.5Taxab1.5Taxablle-e-EquivalentYieldEquivalentYield2.1Yield2.1YieldSpreadMSpreadMeeasuresasures2.Yield2.YieldSSppreadreadEconEconomomicCicCoonnddititionionss==>>CCredrediittSSpprereadad2.2Fa2.2FactorsthctorsthatatAffectYiel

8、dAffectYieldSpreSpreadadEmbeddeEmbeddedOptidOptionsonsLiqLiquuididitityyananddIssIssuueSeSiizeze