NO.PZ2023101902000069
问题如下：
George Smith, a hedge fund manager, has just established a short position in short-term Swiss government bonds that are currently yielding 3.5% and a long position in short-term Italian government bonds that are yielding 4.2%. Smith believes the market has underestimated the probability that the Swiss Franc will appreciate relative to the euro. Which of the following hedge fund strategies is most similar to Smith’s strategy?
选项：
A.Pair trading strategy.
B.Managed futures strategy.
C.Global macro strategy.
D.Event-driven strategy.
解释：
Global macro strategies take long and short positions based on expectations regarding fundamental changes in global capital markets. The manager in this scenario is engaging in a carry trade by taking a long position in a high-yielding currency (euros) and a short position in a low-yielding currency (Swiss Francs). The manager also expects a fundamental change in the exchange rate between the currencies. Managed futures strategies have a similar philosophy but use futures rather than the underlying assets to execute the strategy.老师，这个策略没太懂，如果swiss未来会升值，short swiss bond是借钱，long italian bond是投资。那不是相当未来要还更多的钱？
