单选题 All else being equal, a decrease in expected yield volatility would most likely cause the price of:
A. both a callable bond and a putable bond to decrease.
B. a callable bond to increase and the price of a putable bond to decrease.
C. a callable bond to decrease and the price of a putable bond to increase.

【正确答案】 B
【答案解析】[解析] 收益波动降低会同时减少call和put的价值,而提高callable bond的价值,降低putable bond的价值。