DAF无法指定受益人，为什么还能让未来的投资收益为自己所用呢

R14 Example25 为什么算return的时候不考虑coupon呢

原版书P250（R26）第二题具体这个表格是怎么看的呀？怎么计算出来DC ratio的呢？

为什么这题不选B？

老师，请问R26原版书第221页例题这里的allocation是怎么计算出来的？比如第一年product A和B分别是-0.05%和-0.19%

老师，还是不懂为什么从超配长端债和curve effect是正的就理所当然能推出是变flatten呢？这里头的逻辑具体是什么？

在讲question10的时候老师有反复提到TWAP适用于small order的reference price，因为没有在讲义里看到，想问下是教材中有提到吗？具体是在哪里？

经典题R14第32题 题干说不考虑违约，为什么答案计算excess return时用的是OAS-expected loss?

原版书第178 ，我一直想不明白，例题Hedge2， 为平仓即期头寸用bid, The spot leg of the swap—buying back EUR8,000,000 to settle the outstanding forward transaction—is also based on the bid rate of 10.0200. This is because Yang is selling an amount larger than EUR8,000,000 forward, and the all-in forward rate of the swap is already using the bid side of the market (as it would for a matched swap). Hence, to pick up the net increase in forward EUR sales, the dealer Yang is transacting with would price the swap so that Yang also has to use bid side of the spot quote for the spot transaction used to settle the maturing forward contract

请问这句话是什么意思？为什么。If an investor uses a forward contract to fully hedge foreign currency cash flows, he should expect to earn the domestic risk-free rate.讲课老师说在外汇章节讲过，但是我没印象啦