Expected Return on Bond (credit loss)

CFA Level III Fixed Income
#1

If credit loss = -0.15%
Should this not mean we have to add 0.15%

If credit loss = 0.15%
Should this not mean we have to deduct 0.15%

Seems that some questions/answers contradict each other

#2

On the exam it will be clear.

There’s no such thing as a credit gain.

#3

Thanks Bill, you’re a gentleman and a scholar!

#4

My pleasure.

You’re very kind.

#5

Last one Bill if I may, if my above example was the case for currency loss and Currency Loss: -0.25%, would we interpret that as a 0.25% currency gain. This was more likely the type question given your above comments re credit losses.