问题如下：
6. The most appropriate response to Troubadour’s supervisor’s question regarding the TSI forward contract is:
选项：
A. a decrease in TSI’s share price, all else equal.
B. an increase in the risk-free rate, all else equal
C. a decrease in the market price of the forward contract, all else equal.
解释：
B is correct.
From the perspective of the long position, the forward value is equal to the present value of the difference in forward prices:
Vt(T)= PVt,T[Ft(T)-F0(T)]
where Ft(T) =FVt,T(St+θt-γt)
All else equal, an increase in the risk-free rate before contract expiration would cause the forward price, Ft(T), to increase. This increase in the forward price would cause the value of the TSI forward contract, from the perspective of the short, to decrease. Therefore, an increase in the risk-free rate would lead to a loss on the short position in the TSI forward contract.
重新定价法中 long/short position 公式分子中 FPt与 FP0 谁减谁的顺序从逻辑上怎么理解？