罗密欧C · 2020年02月09日
问题如下：
If the return from an asset is positively correlated with interest rates, would you prefer to enter into a long forward contract or a similar long futures contract? Explain.
选项：
解释：
You would prefer to own a long futures contract because daily gains will tend to be invested at a relatively high rate and daily losses will tend to be financed at a relatively low rate.
老师这道题能不能详细解释一下，看了视频也不是太懂。。。。
NO.PZ2020012005000008 问题如下 If the return from asset is positively correlatewith interest rates, woulyou prefer to enter into a long forwarcontraor a simillong futures contract? Explain. You woulprefer to own a long futures contrabecause ily gains will tento investea relatively high rate anily losses will tento financea relatively low rate. 这里跟我想的有一点点出入，我看到答案写着只要是正相关，那么应该投资futures， 涨了会ily gain, 跌了可以用降低的利率去还借债利息。但是我在想，这里假如我预期未来利率是下降的，我又知道它是正相关，我futures注定会ily loss了，我难道不该投资short?或者说，我是为了锁定利率，一定要long, 那么既然futures fowar途同归，我应该选择最后一天才结算的forwar中间的损失不用拿来还margin, 保证我的流动性才对吧？
NO.PZ2020012005000008 问题如下 If the return from asset is positively correlatewith interest rates, woulyou prefer to enter into a long forwarcontraor a simillong futures contract? Explain. You woulprefer to own a long futures contrabecause ily gains will tento investea relatively high rate anily losses will tento financea relatively low rate.
NO.PZ2020012005000008问题如下If the return from asset is positively correlatewith interest rates, woulyou prefer to enter into a long forwarcontraor a simillong futures contract? Explain. You woulprefer to own a long futures contrabecause ily gains will tento investea relatively high rate anily losses will tento financea relatively low rate.所以futures和forwar的 选择看的不是购买价格哪个低，而是哪个能带来的收益高？比如是positive的时候选futures是因为能带来高收益，而不是选forwar因为他定价低？
