{"id":33636,"date":"2023-11-08T11:13:56","date_gmt":"2023-11-08T11:13:56","guid":{"rendered":"https:\/\/analystprep.com\/study-notes\/?p=33636"},"modified":"2026-03-11T14:32:02","modified_gmt":"2026-03-11T14:32:02","slug":"portfolio-positioning-strategies","status":"publish","type":"post","link":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/","title":{"rendered":"Portfolio Positioning Strategies"},"content":{"rendered":"<p><script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"QAPage\",\n  \"mainEntity\": {\n    \"@type\": \"Question\",\n    \"name\": \"Which credit cycle phase does NOT indicate a future narrowing of spreads between HY and IG bonds?\",\n    \"text\": \"Which of the following credit cycle phases does not indicate an anticipated future narrowing of spreads between High Yield (HY) and Investment Grade (IG) bonds?\\n\\nA. Early Expansion\\nB. Contraction\\nC. Peak\",\n    \"answerCount\": 1,\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"The correct answer is C. The peak phase does not indicate a future narrowing of spreads. At the peak of the credit cycle, spreads are already low and begin to rise as credit conditions deteriorate. In contrast, the early expansion and contraction phases typically signal improving conditions where spreads between HY and IG bonds are expected to narrow.\"\n    }\n  }\n}\n<\/script><br \/>\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"ImageObject\",\n  \"url\": \"https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies-1024x834.png\",\n  \"caption\": \"Portfolio Positioning Strategies\",\n  \"width\": 1024,\n  \"height\": 834,\n  \"copyrightNotice\": \"\u00a9 2024 AnalystPrep\",\n  \"acquireLicensePage\": \"https:\/\/analystprep.com\/license-info\",\n  \"creditText\": \"AnalystPrep Design Team\",\n  \"creator\": {\n    \"@type\": \"Organization\",\n    \"name\": \"AnalystPrep\"\n  }\n}\n<\/script><br \/>\n<iframe loading=\"lazy\" src=\"\/\/www.youtube.com\/embed\/_r-kGcIHCEk\" width=\"611\" height=\"343\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>Understanding the economic cycle significantly influences the evolution of spread curves. Managers and candidates must grasp how spread curves behave throughout the credit cycle regarding their levels and expected changes. This knowledge is crucial for making informed decisions about positioning a fixed-income portfolio.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-36158 size-medium_large\" src=\"https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies-768x626.png\" alt=\"\" width=\"768\" height=\"626\" srcset=\"https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies-768x626.png 768w, https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies-300x244.png 300w, https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies-1024x834.png 1024w, https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies-1536x1251.png 1536w, https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies-400x326.png 400w, https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies.png 1590w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/p>\n<p>\\(HY\\) = High yield (lower credit quality).<\/p>\n<p>\\(IG\\) = Investment grade (higher credit quality).<\/p>\n<h2>Static Spread Curve Strategies<\/h2>\n<p>Strategies involving static spread curves become profitable when the manager&#8217;s belief that spread curves won&#8217;t change aligns with reality. Here are methods for static spread curve approaches:<\/p>\n<ul>\n<li>Lowering the average credit rating of the portfolio.<\/li>\n<li>Increasing credit spread duration by investing in longer-maturity bonds with a similar rating.<\/li>\n<\/ul>\n<p>These methods align with investing principles: longer durations and lower credit quality typically lead to higher yields.<\/p>\n<p>Derivative-based credit strategies, such as selling CDS for longer maturities or lower credit quality, aim to add credit spread duration and exposure.<\/p>\n<h2>Dynamic Credit Spread Curve Strategies<\/h2>\n<p>Dynamic credit spread curve strategies are more intricate. They involve managers forming a detailed perspective on how the following factors might unfold within specific:<\/p>\n<ul>\n<li>Borrowing entities.<\/li>\n<li>Industry sectors.<\/li>\n<li>Overall credit market cycles.<\/li>\n<li>Expected changes in ratings and\/or maturities on the curve.<\/li>\n<\/ul>\n<p>Managers will typically short positions they anticipate will decrease in value and buy positions they expect to appreciate. A combination of these methods can yield positive returns. For each viewpoint the manager holds, they must identify bonds, perhaps on an individual bond level within the extensive fixed-income market, and execute buy and sell actions based on their outlook.<\/p>\n<blockquote>\n<h2>Question<\/h2>\n<p>Which of the following credit cycle phases does not indicate an anticipated future narrowing of spreads between High Yield (HY) and Investment Grade (IG) bonds?<\/p>\n<ol type=\"A\">\n<li>Early Expansion.<\/li>\n<li>Contraction.<\/li>\n<li>Peak.<\/li>\n<\/ol>\n<p><strong>Solution<\/strong><\/p>\n<p><strong>The correct answer is C.<\/strong><\/p>\n<p>Both early expansion and contraction imply that spreads will decrease between HY and IG bonds over time. The peak phase signifies low spreads that are rising simultaneously.<\/p>\n<p><strong>A and B are incorrect.<\/strong> The \u201cEarly Expansion\u201d and \u201cContraction\u201d phases suggest an anticipated narrowing of spreads between HY and IG bonds as economic conditions improve.\u2003<\/p>\n<\/blockquote>\n<p>Reading 22: Fixed Income Active Management: Credit Strategies<\/p>\n<p>Los 22 (h) Discuss various portfolio positioning strategies that managers can use to implement a specific credit spread view<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Understanding the economic cycle significantly influences the evolution of spread curves. Managers and candidates must grasp how spread curves behave throughout the credit cycle regarding their levels and expected changes. This knowledge is crucial for making informed decisions about positioning&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[571],"tags":[],"class_list":["post-33636","post","type-post","status-publish","format-standard","hentry","category-cfa-level-iii","blog-post","no-post-thumbnail","animate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Yield Curve and Portfolio Positioning<\/title>\n<meta name=\"description\" content=\"Understand portfolio positioning strategies including yield curve positioning and credit maturity strategies used in fixed income portfolios.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yield Curve and Portfolio Positioning\" \/>\n<meta property=\"og:description\" content=\"Understand portfolio positioning strategies including yield curve positioning and credit maturity strategies used in fixed income portfolios.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/\" \/>\n<meta property=\"og:site_name\" content=\"CFA, FRM, and Actuarial Exams Study Notes\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-08T11:13:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-11T14:32:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1590\" \/>\n\t<meta property=\"og:image:height\" content=\"1295\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Nicolas Joyce\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nicolas Joyce\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/\"},\"author\":{\"name\":\"Nicolas Joyce\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/#\\\/schema\\\/person\\\/393e8b0a7757cde1d197fb0c060af25f\"},\"headline\":\"Portfolio Positioning Strategies\",\"datePublished\":\"2023-11-08T11:13:56+00:00\",\"dateModified\":\"2026-03-11T14:32:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/\"},\"wordCount\":370,\"image\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Portfolio-Positioning-Strategies-768x626.png\",\"articleSection\":[\"Level III of the CFA\u00ae Program\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/\",\"url\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/\",\"name\":\"Yield Curve and Portfolio Positioning\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Portfolio-Positioning-Strategies-768x626.png\",\"datePublished\":\"2023-11-08T11:13:56+00:00\",\"dateModified\":\"2026-03-11T14:32:02+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/#\\\/schema\\\/person\\\/393e8b0a7757cde1d197fb0c060af25f\"},\"description\":\"Understand portfolio positioning strategies including yield curve positioning and credit maturity strategies used in fixed income portfolios.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/#primaryimage\",\"url\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Portfolio-Positioning-Strategies.png\",\"contentUrl\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Portfolio-Positioning-Strategies.png\",\"width\":1590,\"height\":1295},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/cfa-level-iii\\\/portfolio-positioning-strategies\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Portfolio Positioning Strategies\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/#website\",\"url\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/\",\"name\":\"CFA, FRM, and Actuarial Exams Study Notes\",\"description\":\"Question Bank and Study Notes for the CFA, FRM, and Actuarial exams\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/#\\\/schema\\\/person\\\/393e8b0a7757cde1d197fb0c060af25f\",\"name\":\"Nicolas Joyce\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g\",\"caption\":\"Nicolas Joyce\"},\"url\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/author\\\/kajal\\\/\"}]}<\/script>\n<meta property=\"og:video\" content=\"https:\/\/www.youtube.com\/embed\/_r-kGcIHCEk\" \/>\n<meta property=\"og:video:type\" content=\"text\/html\" \/>\n<meta property=\"og:video:duration\" content=\"5602\" \/>\n<meta property=\"og:video:width\" content=\"480\" \/>\n<meta property=\"og:video:height\" content=\"270\" \/>\n<meta property=\"ya:ovs:adult\" content=\"false\" \/>\n<meta property=\"ya:ovs:upload_date\" content=\"2023-11-08T11:13:56+00:00\" \/>\n<meta property=\"ya:ovs:allow_embed\" content=\"true\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Yield Curve and Portfolio Positioning","description":"Understand portfolio positioning strategies including yield curve positioning and credit maturity strategies used in fixed income portfolios.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/","og_locale":"en_US","og_type":"article","og_title":"Yield Curve and Portfolio Positioning","og_description":"Understand portfolio positioning strategies including yield curve positioning and credit maturity strategies used in fixed income portfolios.","og_url":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/","og_site_name":"CFA, FRM, and Actuarial Exams Study Notes","article_published_time":"2023-11-08T11:13:56+00:00","article_modified_time":"2026-03-11T14:32:02+00:00","og_image":[{"width":1590,"height":1295,"url":"https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies.png","type":"image\/png"}],"author":"Nicolas Joyce","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Nicolas Joyce","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/#article","isPartOf":{"@id":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/"},"author":{"name":"Nicolas Joyce","@id":"https:\/\/analystprep.com\/study-notes\/#\/schema\/person\/393e8b0a7757cde1d197fb0c060af25f"},"headline":"Portfolio Positioning Strategies","datePublished":"2023-11-08T11:13:56+00:00","dateModified":"2026-03-11T14:32:02+00:00","mainEntityOfPage":{"@id":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/"},"wordCount":370,"image":{"@id":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/#primaryimage"},"thumbnailUrl":"https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies-768x626.png","articleSection":["Level III of the CFA\u00ae Program"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/","url":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/","name":"Yield Curve and Portfolio Positioning","isPartOf":{"@id":"https:\/\/analystprep.com\/study-notes\/#website"},"primaryImageOfPage":{"@id":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/#primaryimage"},"image":{"@id":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/#primaryimage"},"thumbnailUrl":"https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies-768x626.png","datePublished":"2023-11-08T11:13:56+00:00","dateModified":"2026-03-11T14:32:02+00:00","author":{"@id":"https:\/\/analystprep.com\/study-notes\/#\/schema\/person\/393e8b0a7757cde1d197fb0c060af25f"},"description":"Understand portfolio positioning strategies including yield curve positioning and credit maturity strategies used in fixed income portfolios.","breadcrumb":{"@id":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/#primaryimage","url":"https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies.png","contentUrl":"https:\/\/analystprep.com\/study-notes\/wp-content\/uploads\/2023\/11\/Portfolio-Positioning-Strategies.png","width":1590,"height":1295},{"@type":"BreadcrumbList","@id":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/portfolio-positioning-strategies\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/analystprep.com\/study-notes\/"},{"@type":"ListItem","position":2,"name":"Portfolio Positioning Strategies"}]},{"@type":"WebSite","@id":"https:\/\/analystprep.com\/study-notes\/#website","url":"https:\/\/analystprep.com\/study-notes\/","name":"CFA, FRM, and Actuarial Exams Study Notes","description":"Question Bank and Study Notes for the CFA, FRM, and Actuarial exams","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/analystprep.com\/study-notes\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/analystprep.com\/study-notes\/#\/schema\/person\/393e8b0a7757cde1d197fb0c060af25f","name":"Nicolas Joyce","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g","caption":"Nicolas Joyce"},"url":"https:\/\/analystprep.com\/study-notes\/author\/kajal\/"}]},"og_video":"https:\/\/www.youtube.com\/embed\/_r-kGcIHCEk","og_video_type":"text\/html","og_video_duration":"5602","og_video_width":"480","og_video_height":"270","ya_ovs_adult":"false","ya_ovs_upload_date":"2023-11-08T11:13:56+00:00","ya_ovs_allow_embed":"true"},"_links":{"self":[{"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/posts\/33636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/comments?post=33636"}],"version-history":[{"count":9,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/posts\/33636\/revisions"}],"predecessor-version":[{"id":42732,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/posts\/33636\/revisions\/42732"}],"wp:attachment":[{"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/media?parent=33636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/categories?post=33636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/tags?post=33636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}