NO.PZ201701230200000107
问题如下：
7. By choosing to buy Bond Z, Nguyen is most likely making which of the following assumptions?
选项：
A.
Bond Z will be held to maturity
B.
The three-year forward curve is above the spot curve
C.
Future spot rates do not accurately reflect future inflation
解释：
B is correct.
Nguyen’s strategy is to ride the yield curve, which is appropriate when the yield curve is upward sloping. The yield curve implied by Exhibit 1 is upward sloping, which implies that the three-year forward curve is above the current spot curve. When the yield curve slopes upward, as a bond approaches maturity or "rolls down the yield curve," the bond is valued at successively lower yields and higher prices.
没理解three year forward rate 和spot rate到底指啥
