单选题 An analyst does research about a callable bond. All else being equal, is a callable bond most likely to exhibit negative convexity when the prevailing market yield for that bond is relatively:

【正确答案】 C

【答案解析】[解析] 当市场利率低于息票率时，更有可能触及到可赎回价格，这时体现价格和收益率的相互关系的曲线显示出负凸性。