20. If futures prices are less than spot prices, the explanation usually given is the con- venience...
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20. If futures prices are less than spot prices, the explanation usually given is the con- venience yield. Explain what the convenience yield is. Then identify certain assets on which convenience yields are more likely to exist and other assets on which they are not likely to be found.
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Related Book For
An Introduction To Derivatives And Risk Management
ISBN: 9780324321395
7th Edition
Authors: Don M. Chance, Roberts Brooks
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