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流动性低的资产和流动性高的资产之间的差额就是流动性溢价。流动性低的资产其预期收益率高，相反，流动性高的资产其预期收益率低。这句话怎么理解。我怎么不明白，好像说反了吧，，希望明白人解释一下。。谢谢了。。。

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关键词：流动性 收益率 不明白 明白人 流动性 收益率 明白人

这个我知道。资产的供给曲线是向右上的，需求曲线是向左下的。流动性低的资产比流动性高的资产价格要低，这点应该没问题吧？价格低的资产（比方债券），它的利率就高，所以利差就是流动性溢价。

lz，我是这么理解的。流动性高的意思是期限短，如短期贷款；流动性低的意思是，期限长，如长期贷款；当然长期贷款的期望利率比短期的要高，这中间的差值即流动性溢价。

好，我明白了，，谢谢了，哈

Liquidity premium is a segment of a three-part theory that works to explain the behavior of yield curves for interest rates. The upwards-curving component of the interest yield can be explained by the liquidity premium. The reason behind this is that short term securities are less risky compared to long term rates due to the difference in maturity dates. Therefore investors expect a premium, or risk premium for investing in the risky security. Liquidity risk premiums are recommended to be used with longer term investments, where those particular investments are illiquid.

or

Assets that are traded on an organized market are more liquid. Financial disclosure requirements are more stringent for quoted companies. For a given economic result, organized liquidity and transparency make the value of quoted share higher than the market value of an unquoted share. The difference in the prices of two assets, which are similar in all aspects except liquidity, is called the liquidity premium.