Suppose on closing day in March 2021 the spot prices for the three assets where as follows: 1. The bond's yield is 97% 2. The FX rate is 1.15 $/ 3. S&P500 is 3,595 Show how the on-balance sheet risk is hedged by the futures contracts, i.e. how the potential loss or gain on-balance sheet is offset by gain/loss on the off-balance sheet. Suppose on closing day in March 2021 the spot prices for the three assets where as follows: 1. The bond's yield is 97% 2. The FX rate is 1.15 $/ 3. S&P500 is 3,595 Show how the on-balance sheet risk is hedged by the futures contracts, i.e. how the potential loss or gain on-balance sheet is offset by gain/loss on the off-balance sheet