NO.PZ201701230200000106
问题如下：
6. For Assignment 2, Alexander should conclude that Bond Z is currently:
选项：
A.undervalued
B.faily valued
C.overvalued
解释：
A is correct.
Alexander projects that the spot curve two years from today will be below the current forward curve, which implies that her expected future spot rates beyond two years will be lower than the quoted forward rates. Alexander would perceive Bond Z to be undervalued in the sense that the market is effectively discounting the bond’s payments at a higher rate than she would and the bond's market price is below her estimate of intrinsic value.
老师问下这里的bondZ的price被underpriced 选A是因为用current forward rate算出来的吗所以被低估 但是他这道题上面给的表1是spot rate 不是应该用这个利率算出来的和current forward rate的做对比 应该选高估吗 不太懂这个逻辑 题目问的是这个债券现在的价值 现在spot rate 低于current forward rate 所以他被高估 选了c 麻烦老师解答
