小同學(xué)
2018-06-09 17:44老師好， 這句話怎么理解？ implied by是什么意思？ When spot rates turn out to be lower than implied by the forward curve, the forward price will increase. A trader expecting lower future spot rate would purchase the forward contract to profit from its appreciations. Thank you !
所屬：CFA Level II > Fixed Income 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個回答
Vincent助教
2018-06-11 14:17
該回答已被題主采納
同學(xué)你好，這里的spot rate應(yīng)該是actual spot rate, 意思是我覺得forward rate定得高了，于是未來forward rate會下降，bond price會上升。當你預(yù)計市場的forward rate預(yù)計過高的時候， 應(yīng)該買入forward contract.
imply一般是從。。。推出。。。的意思，比如impled by forward rate, 意思應(yīng)該是從forward rate得到的expected spot rate
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