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Basic Question 11 of 12
Credit spreads become wider during economic contractions, as investors tend to sell off low-quality corporate issues and invest the proceeds in government bonds. A change in yield-to-maturity in this case could be caused by a change in the ______.
II. credit risk
III. liquidity risk
I. benchmark yield
II. credit risk
III. liquidity risk
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Learning Outcome Statements
describe macroeconomic, market, and issuer-specific factors that influence the level and volatility of yield spreads
CFA® 2024 Level I Curriculum, Volume 4, Module 14.