问题如下:
If futures prices are positively correlated with interest rates, the futures prices will be:
选项:
A.equal to forward prices.
B.higher than forward prices.
C.lower than forward prices.
解释:
B is correct. Futures contracts are more desirable than forwards for long positions when futures prices are positively correlated with interest rates. Futures payoffs occur everyday, whereas forward payoff occur all at expiration. When futures prices increase, the long positions have gains, they can reinvest the gains at higher interest rates.
请问这道题在没有讲long position还是short position的情况下, 怎么确定是从哪个角度想问题呢。。