小同学2018-06-09 17:44:48
小同学老师好， 这句话怎么理解？ implied by是什么意思？ When spot rates turn out to be lower than implied by the forward curve, the forward price will increase. A trader expecting lower future spot rate would purchase the forward contract to profit from its appreciations. Thank you !
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Vincent2018-06-11 14:17:55
Vincent同学你好，这里的spot rate应该是actual spot rate, 意思是我觉得forward rate定得高了，于是未来forward rate会下降，bond price会上升。当你预计市场的forward rate预计过高的时候， 应该买入forward contract.
imply一般是从。。。推出。。。的意思，比如impled by forward rate, 意思应该是从forward rate得到的expected spot rate
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