问题
单项选择题
An analyst forecasts that spot interest rates will increase more than the increase implied by the current forward interest rates. Under these circumstances:（）
A. the analyst should establish a bearish bond portfolio.
B. all bond positions earn the same return.
C. the analyst should establish a bullish bond portfolio.
答案
参考答案：A
解析：
Bond prices fall with a rise in interest rates. If realized rates rise more than the associated forward rate implied, then a bearish bond position will be the most beneficial.