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Basic Question 6 of 6
Which of the following is likely to exhibit the worst consumption-hedging properties?
B. Long-term AAA corporate bonds
C. Equities
A. Short-term government bonds
B. Long-term AAA corporate bonds
C. Equities
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Edward Liu
Learning Outcome Statements
explain how the phase of the business cycle affects short-term and long-term earnings growth expectations;
explain the relationship between the consumption hedging properties of equity and the equity risk premium;
describe cyclical effects on valuation multiples;
CFA® 2025 Level II Curriculum, Volume 6, Module 37.