NO.PZ2018123101000057
问题如下：
A bond is a five-year annual pay bond with a coupon rate of 2%. It trades in three different markets in the same currency, shown as below:
The most profitable arbitrage opportunity would be to buy the bond in:
选项：
A.
Mumbai and sell it in Hong Kong.
B.
Hong Kong and sell it in New York.
C.
New York and sell it in Hong Kong.
解释：
B is correct.
考点：Arbitrage Opportunity
解析：在这三个市场中，纽约债券的到期收益率最低，相应地，债券价格最高。 同样，香港债券的到期收益率最高，三个市场的债券价格最低。 因此，套利交易可以在香港购买债券并在纽约出售。
这里是不是应该假设汇率保持不变？
