NO.PZ202304070100001302
问题如下：
Based on Exhibit 1 and assuming Tyo’s market views on yield curve changes are realized, the forward curve of which country will lie below its spot curve?
选项：
A.
Country A
B.
Country B
C.
Country C
解释：
Correct Answer: B
The yield curve
for Country B is currently upward sloping, but Tyo expects a reversal in the
slope of the current yield curve. This means she expects the resulting yield
curve for Country B to slope downward, which implies that the resulting forward
curve would lie below the spot yield curve. The forward curve lies below the
spot curve in scenarios in which the spot curve is downward sloping; the
forward curve lies above the spot curve in scenarios in which the spot curve is
upward sloping.
A is incorrect
because the yield curve for Country A is currently upward sloping and Tyo
expects that the yield curve will maintain its shape and level. That
expectation implies that the resulting forward curve would be above the spot
yield curve.
C is incorrect
because the yield curve for Country C is currently downward sloping and Tyo
expects a reversal in the slope of the current yield curve. This means she
expects the resulting yield curve for Country C to slope upward, which implies
that the resulting forward curve would be above the spot yield curve.
country Bfuture spot rate高于current forward rate这个和reversal到downward是否矛盾？
