题目
Investors who believe that interest rates will rise most likely prefer to invest in:
选项
A.inverse floaters.
B.fixed-rate bonds.
C.floating-rate notes.
答案
C
解析
： C is correct. In contrast to fixed-rate bonds that decline in value in a rising interest rate environment, floating-rate notes (FRNs) are less affected when interest rates increase because their coupon rates vary with market interest rates and are reset at regular, short-term intervals. Consequently, FRNs are favored by investors who believe that interest rates will rise. A is incorrect because an inverse floater is a bond whose coupon rate has an inverse relationship to the reference rate, so when interest rates rise, the coupon rate on an inverse floater decreases. Thus, inverse floaters are favored by investors who believe that interest rates will decline, not rise. B is incorrect because fixed rate-bonds decline in value in a rising interest rate environment. Consequently, investors who expect interest rates to rise will likely avoid investing in fixed-rate bonds. ： C是正确的。与在利率上升环境下价值下降的固定利率债券不同，浮动利率债券（FRN）在利率上升时受影响较小，因为它们的票面利率随市场利率而变化，并按定期、短期间隔重置。因此，frn受到相信利率会上升的投资者的青睐。 A是不正确的，因为逆浮动利率是其票面利率与参考利率成反比的债券，因此当利率上升时，逆浮动利率的票面利率下降。因此，反向浮动利率受到投资者的青睐，他们认为利率将下降，而不是上升。B是不正确的，因为在利率上升的环境下，固定利率债券的价值下降。因此，期望利率上升的投资者可能会避免投资于固定利率债券。