An investor is evaluating a set of bonds from whic
An investor is evaluating a set of bonds from which he will select two issues. The investor’s objective is to find bonds with cash flows that will precisely match a known stream of future obligations. Which of the following two issues willmost likely to meet the investor’s objective?
A. A putable bond and a floating-rate bond.
B. A mortgage-backed security and a convertible bond.
C. A zero-coupon bond and a Treasury strip.
参考解答
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2024-11-17 18:07:24
Ans:C
C is correct because both the zero coupon and Treasury strip bonds have cash flows that can be estimated with certainty.
The following are three situations where there is difficulties in estimating future cash flows:
The principal repayment stream is not known with certainty : bonds with embedded options;
The coupon payments are not known with certainty: floating rate –securities;
The bond is convertible or exchangeable into another security.
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