题目
Which of the following statements about STRIPS is correct? I. SIRIPS ave less interest rate sensitivity than coupon bonds. II. Tend to be highly liquid.
选项
A.\u2160 only
B.\u2161 only
C.Both \u2160 and \u2161
D.Neither \u2160 nor \u2161
答案
D
解析
STRIPS can be relatively illiquid and have more interest rate sensitivity than coupon bonds. Because of the cost to strip/reconstitute, only large institutional investors can potentially profit from doing So. STRIPS are often used with hedging strategies for asset-liability management such as matching maturity dates with a liability stream.本息剥离债券的流动性相对较差，对利率的敏感度也高于票面债券。