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从商业银行角度看,投资企业债券与向企业发放贷款的性质基本类似,均属于债务融资,因此,投资企业债券将同样面临信用风险。此外,企业债券作为一种市场工具,也面临着由于价格波动而引发的市场风险。信用风险和市场风险往往相互作用和影响,从而“放大”风险。1.从微观角度看,信用
From a commercial bank’s point of view, investment in corporate bonds and the nature of loans to businesses are basically similar, are debt financing, therefore, investment in corporate bonds will also face credit risk. In addition, as a market instrument, corporate bonds are also exposed to market risk due to price fluctuations. Credit and market risks often interact and influence, thereby “amplifying” the risks. 1. From a microscopic point of view, credit