另外,亦有透过沽期指或「波幅长仓(Long Volatility)的操作对冲股市风险。 前几年一直是成熟市场的天下,但今年情况开始逆转,美国大选以致脱欧隐忧,都令资金从成熟市场流向新兴市场...
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It is merely a long volatility contract.
它仅是一项长期波动的合同。
Only rarely, as on February 27th, does the curve “invert” so that short-term implied volatility is higher than long-term.
仅在很少情况下,如2月27日,市场曲线发生倒转因此短期隐含波动高于长期隐含波动。
The implied volatility of these contracts has shot up in recent months (see chart), indicating that investors are uncertain about long-term interest rates.
这些契约的隐含波动率最近几月迅速飞升(见上图),显示出投资者对长期利率的信心摇摆。
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