题目
Which of the following risk premiums is most relevant in explaining the difference in yields between 30-year bonds issued by the US Treasury and 30-year bonds issued by a small private issuer?
选项
A.Inflation
B.Maturity
C.Liquidity
答案
C
解析
： C is correct. US Treasury bonds are highly liquid, whereas the bonds of small issuers trade infrequently and the interest rate includes a liquidity premium. This liquidity premium reflects the relatively high costs (including the impact on price) of selling a position. ： C正确。 美国国债的流动性很强，而小型发行人的债券交易较少，其利率包含流动性溢价。这种流动性溢价反映了卖出头寸的相对较高成本(考虑了流动性对于债券本身价格的影响)。