问题
单项选择题
Holding all other factors constant, an increase in yield volatility will cause the price of a (n) :
A．
| A. callable bond to increase. |
B．
| B. puttable bond to incnease. |
C．
| C. Embedded call option to decrease. |
答案
参考答案：B
解析：Increasing yield volatility increases the value of both put options and call options, which increases the value of a putable bond but decreases the value of a callable bond.