问题如下图：
选项：
A. 
B. 
C. 
解释：
这道题中的forward rates指的不是middle forward rate吧？middle rate是spot rate算出来的implied rate，volatility的变动时不会影响spot rate的，进而middle rate不变
NO.PZ201602270200001806 问题如下 6. If the assumevolatility is changeBlarequestein Task 4, the forwarrates shown in Exhibit 3 will most likely: A.spreout. B.remain unchange C.converge to the spot rates. A is correct.Volatility is one of the two key assumptions requireto estimate rates for the binomiinterest rate tree. Increasing the volatility from 10% to 15% woulcause the possible forwarrates to spreout on the tree it increases the exponent in the relationship multiple between nos (ex, where x = 2 times the number of nos above the lowest no in a given yein the interest rate tree). Conversely, using a lower estimate of volatility woulcause the forwarrates to narrow or converge to the implieforwarrates from the prevailing yielcurve. B is incorrebecause volatility is a key assumption in the binomiinterest rate tree mol. Any change in volatility will cause a change in the implieforwarrates. C is incorrebecause increasing the volatility from 10% to 15% causes the possible forwarrates to spreout on the tree, not converge to the implieforwarrates from the current yielcurve. Rates will converge to the implieforwarrates when lower estimates of volatility are assume 我想问的是，volatility 变大，IFR会变吗？如果IFR不会变，那为什么mile rate 会变？
NO.PZ201602270200001806 问题如下 6. If the assumevolatility is changeBlarequestein Task 4, the forwarrates shown in Exhibit 3 will most likely: A.spreout. B.remain unchange C.converge to the spot rates. A is correct.Volatility is one of the two key assumptions requireto estimate rates for the binomiinterest rate tree. Increasing the volatility from 10% to 15% woulcause the possible forwarrates to spreout on the tree it increases the exponent in the relationship multiple between nos (ex, where x = 2 times the number of nos above the lowest no in a given yein the interest rate tree). Conversely, using a lower estimate of volatility woulcause the forwarrates to narrow or converge to the implieforwarrates from the prevailing yielcurve. B is incorrebecause volatility is a key assumption in the binomiinterest rate tree mol. Any change in volatility will cause a change in the implieforwarrates. C is incorrebecause increasing the volatility from 10% to 15% causes the possible forwarrates to spreout on the tree, not converge to the implieforwarrates from the current yielcurve. Rates will converge to the implieforwarrates when lower estimates of volatility are assume 什么情况下选C
NO.PZ201602270200001806 remain unchange converge to the spot rates. A is correct. Volatility is one of the two key assumptions requireto estimate rates for the binomiinterest rate tree. Increasing the volatility from 10% to 15% woulcause the possible forwarrates to spreout on the tree it increases the exponent in the relationship multiple between nos (ex, where x = 2 times the number of nos above the lowest no in a given yein the interest rate tree). Conversely, using a lower estimate of volatility woulcause the forwarrates to narrow or converge to the implieforwarrates from the prevailing yielcurve. B is incorrebecause volatility is a key assumption in the binomiinterest rate tree mol. Any change in volatility will cause a change in the implieforwarrates. C is incorrebecause increasing the volatility from 10% to 15% causes the possible forwarrates to spreout on the tree, not converge to the implieforwarrates from the current yielcurve. Rates will converge to the implieforwarrates when lower estimates of volatility are assume 我理解波动率不影响每一期利率加权平均的结果
你好，所以mile rate是不会随着volatility的变化而改变的对吗？（i H更高+i L 更低）/2 就中和了? 谢谢
