...格是低于现货价格的,也就是交割延期升水(backwardation),投资者买入期货然后等待价格升至现货水平可以赚取展期收益(roll yield),这是商品市场收益的重要一部分。
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...认为,展期收益率的正负一定程度上反映了库存水平。当库存偏低时,近月合约有上行趋势,更容易导致远月合约出现贴水现象,即表现为正的展期收益率(Roll Yield, RY),此后由于库存偏低,商品价格可能继续上涨,应当做多该品种;反之则做空。
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以上来源于: WordNet
In the year to date the roll yield has been minus 13.35%, and the annualised yield on the next two months 'contracts is minus 38.4%.
时至今日,展期收益为- 13.35%,而且未来两个月的收益率以年率计算的话为- 38.4%。
Investors may actually have caused their own difficulties. As they have tried to exploit the positive roll yield, the returns have disappeared.
很有可能是投资者给自己制造了这些麻烦。他们尽力去从正展期收益中榨取利润,但是收益完全消失了。
The heredity of resistance to potato leaf roll and mosaic viruses and its relation to yield characters in potato was studied.
本文研究了马铃薯对卷叶和花叶病毒抗性的遗传及与产量性状的关系。
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