融跃答疑珂老师 2022-07-26 09:23
致精进的你:
这个课件有误,刚好反了。原文:A steeper (flatter) curve means that long-term credit risk increases (decreases) relative to short-term credit risk. An investor who believes that long-term credit risk will increase relative to short-term credit risk (credit curve steepening) can buy protection by buying a long-term single-name CDS or selling a long-term CDS index and sell protection by selling a short-term single-name CDS or buying a short-term CDS index.
The real talent is resolute aspirations.
真正的才智是刚毅的志向。
追问12022-08-26 18:17
为什么单一的cds是buy,index是sell啊?而且不是说buy protection相当于short cds嘛,这个怎么理解?
回答2022-08-27 22:12
buy protection相当于long cds这是针对单一cds而言。而index不是cds,长期风险高,就卖出长期的指数。