An analyst classifies in Level 1 the measurement of a Prelane bond, on the grounds that it uses the quoted price, in an active market, of another Prelane bond from the same issuer but with a different maturity. What is the error?
An analyst classifies in Level 1 the measurement of a Prelane bond, on the grounds that it uses the quoted price, in an active market, of another Prelane bond from the same issuer but with a different maturity. What is the error?