Eastland and Northland (with currencies pegged to each other) will share the same yield curve if two conditions are met. First, unrestricted capital mobility must occur between them to ensure that risk-adjusted expected returns will be equalized. Second, the exchange rate between the currencies must be credibly fixed forever. Thus, as long as investors believe that there is no risk in the future of a possible currency appreciation or depreciation, Eastland and Northland will share the same yield curve. A shift in investors’ belief in the credibility of the fixed exchange rate will likely cause risk and yield differentials to emerge. This situation will cause the (default-free) yield curve to differ between Eastland and Northland. 这段话说的是什么意思，总结下来是三元悖论哪个不满足？

这个公式得出的是标准合约的份数啊，他不是CTD的份数啊

fiscal policy 如何影响 yield curve的shape?

这里公式左侧除以CTD对duration，右侧又转化为标准券的金额？也不合适啊？为什么要除以CF？

为什么期限越长票面利率更高？

根据市值加权的话 不是正适合成熟的发高股利的公司吗 还是觉得B挺对的

a diffusion index 是什么，为什么属于a leading indicator-based approach？

请问老师，那么当把保单卖给对冲基金后，除了触发理赔是原保单持有人（受益人）死亡这个时点之外，其余保单的每一期保费以及最后死亡理赔保额都与原保单持有人无关了，都转换成了HF，对吗？谢谢！

最后两题没有讲解视频啊,麻烦老师讲解下，谢谢

老师，第一题他是用远期合约对冲价值一亿的资产，现在这些资产亏了7百万，那既然前期已经用远期做了一亿的对冲，那就等到期时候执行远期合约不就可以了吗? 为什么还需要买远期合约？