问一道题：NO.PZ2016071602000018 [ FRM II ]

The strategy coullose from increases in the Treasury rate, all else fixe The payoff in the strategy hnegative skewness. The payoff in the strategy hpositive skewness. C is correct. The strategy hno exposure to the level of rates but is exposeto a wining of the swap-Treasury sprea Assume, for instance, ththe swanTreasury rates are initially 5.5% an5%. If these rates change to 5.3% an4.5%, for example, values for both the swanthe Treasury bonwoulincrease. Because the op in the Treasury rate is larger, however, the priof the Treasury bonwoulfall more ththe swap, leang to a net loss on the position. The strategy shoulgain from creases in the swap-Treasury sprea so is wrong. The strategy shoulgain from increases in the Treasury rate, all else equal, so is wrong. Finally, the stribution of the payoff pen on the stribution of the swap-Treasury sprea Because this cannot go below zero, there is a limit on the upsi. The position hnegative skewness, so is correct. 关于spreatreasury rate变化引起的gain or loss能不能再详细说说？

对于损失处于分布的左边还是右边我如何区分呢？感觉有的题目损失在左边，有的在右边。

这个'strategy不太理解

     1、前面的回答有误吧，作为IRS的买方应该是PFIXE收浮动才对的吧，2、negative/positive skewness的图形是什么样子？我老是记反糊涂了、3、IRS 利率从5.5降至5.3 这个SWAP怎么还会INCREASE?4 TREASURY RATE从5降至4.5，TREASURY BONPRICE怎么还会增加？总之完全不懂，求老师详细