LIWEIWEI2019-03-30 08:20:04

JPY/AUD spot rate (mid-market) 79.25 One-year forward points (mid-market) –301.9 One-year Australian deposit rate 5.00% One-year Japanese deposit rate 1.00% If the asset manager completely hedged the currency risk associated with a one-year Japanese deposit using a forward rate contract, the one-year all-in holding return, in AUD, would be closest to:5% 为什么 fully hedge=no arbitrage opportunity？ 如果是uip HOLD, no arbitrage opportunity意味着什么呢？