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Now, assume that you are the portfolio manager of a U . S . mutual fund that invests exclusively in Swiss government bonds. For simplicity,

Now, assume that you are the portfolio manager of a U.S. mutual fund that invests exclusively in Swiss government bonds. For simplicity, assume again that it is September 18,2024. The bonds in your portfolio are zero coupon bonds, have a face value of SFR 5,000,000, and will mature on October 28,2024. You are convinced that the US$ will appreciate until then.

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