问题如下:
A long position in a 2 x 5 FRA is equivalent to the following positions in the spot market:
选项: Borrowing in two months to finance a
five-month investment
Borrowing in five months to finance a two-month investment
C.Borrowing half a loan amount at two months and the remainder at five months
D.Borrowing in two months to finance a three-month investment
解释:
ANSWER: B
An FRA defined as involves a forward rate starting at time and ending at time The buyer of this FRA locks in a borrowing rate for months 3 to 5. This is equivalent to borrowing for five months and reinvesting the funds for the first two months.
看了之前的回答,还是有点没明白。
“可以想象成借了5个月钱,但是前2个月借的这笔钱用来放贷了”
所以是相当于以6.2%的FRA合同约定利率借了5个月,但在前两个月,即0-2期间以市场利率放贷给别人了吗?