这道题课后答案是不是不对？

作为pure indexing的替代方法，mutual fund不是可以随时申购赎回(笔记114页)，那为什么说Case 4: Sonera Endowment Fund中的 ". One advantage of investing in equity mutual funds is that shares can be redeemed at any point during the trading day."是错的

Pure indexing 到底是成本高还是成本低呀？笔记114页，既说成本低，又说成本高？

LGD*POD就是expected loss。但它为什么等于spread？

这里第三题，Basis risk is the potential risk that arises from mismatches in a hedged position. 如果SEK/EUR下跌，那之前hedging position不会过多吗？导致basis risk?

Rolldown return请解释一下

An active fixed - income manager holds a portfolio of commercial and residential mortgage - backed securities that tracks the Bloomberg Barclays US Mortgage - Backed Securities Index .Which of the following choices is the most relevant portfolio statistic for evaluating the first - order change in his portfolio ' s value for a given change in benchmark yield ? A Effective duration B Macaulay duration C Modified duration

An ' analyst manages an active fixed - income fund that is benchmarked to the Bloomberg Barclays US Treasury Index . This index of US government bonds currently has a modified portfolio duration of 7.25 and an average maturity of 8.5 years . The yield curve is upward - sloping and expected to remain unchanged . Which of the following is the least attractive portfolio positioning strategy in a static curve environment ? A、 Purchasing a 10- year zero - coupon bond with a yield of 2% and a price of 82.035 B 、Entering a pay - fixed ,30- year USD interest rate swap C、 Purchasing a 20- year Treasury and financing it in the repo market

冲刺笔记上，第106页的扩展：为什么做空libor就是fixed rate - 2*LIBOR？那同理做多LIBO,为什么不是2*LIBOR - fixed rate. 2)倍数2为什么是用做多/R

TAA=target+-range 还是SAA=target+-range?