问题
单项选择题
The price of a 90-day forward contract on a 90-day Treasury bill will be:()
A. above the current price of a 90-day T-bill.
B. above the current price of a 180-day T-bill.
C. either above or below the current price of a 180-day T-bill.
答案
参考答案：B
解析：
Since purchasing a 180-day T-bill today will result in a 90-day T-bill 90 days from now, the forward price must be higher than the current price of a 180-day T-bill. As long as interest rates are positive, no one would agree to sell a 180-day bill at a lower price 90 days later.