摘要
我国的债券市场开始于20世纪80年代,随着债券品种的逐渐完善以及利率市场化改革的进一步深入,债券投资的利率风险已成为投资者所面临的最主要的市场风险。因此,当前对债券市场中的利率风险进行衡量与规避便具有了重要的理论意义和实践价值。具体分析了债券投资中利率风险规避的基本工具——久期与凸性,并对久期与凸性的特性与运用进行分析,帮助投资者对这两种工具有一个感性的认识。
The bond market get started in the 1980s in China, along with the gradual improvement of various bond, as well as further going through of the interest rotes liberalization reform, interest risk in bond＇s investment has become the major market risk which most investor encountered. Thus, there have been existed important theory significance and the practice value which we need pay more consideration and avoidance upon interest risk in bond market. In this article we focus on analyzing the fundamental tool, duration and convexity, which being used to avoid interest risk in bond＇s in- vestment.
出处
《经济问题》
CSSCI
北大核心
2009年第6期121-123,共3页
On Economic Problems
关键词
利率风险
久期
凸性
免疫
interest risk
duration
convexity
immunity
