问题如下:
A long position in a 2 x 5 FRA is equivalent to the following positions in the spot market:
选项:
A. Borrowing in two months to finance a
five-month investment
B. Borrowing in five months to finance a
two-month investment
C. Borrowing half a loan amount at two months and
the remainder at five months
D. Borrowing in two months to finance a
three-month investment
解释:
ANSWER: B
An FRA defined as involves a forward rate starting at time and ending at time The buyer of this FRA locks in a borrowing rate for months 3 to 5. This is equivalent to borrowing for five months and reinvesting the funds for the first two months.
没明白,为啥借了5个月,前2个月要把钱放出去