Es ist schon oft die Bedeutung von Forward-Sätzen bei der Bewertung des heutigen Wertes von Anleihen entlang der Renditekurve erläutert worden. Die aktuellen Renditekurven der Industrie- und Schwellenländer zeigen eine positive Steigung auf. Darin spiegelt sich die Erwartung wider, dass die Zentralbanken die Leitzinsen in den kommenden Jahren anheben werden. Bei der Berechnung der Forward-Sätze ist zu beobachten, dass diese oberhalb der aktuellen Renditekurve verlaufen. Anleger, die glauben, dass die Normalisierung der Geldpolitik insgesamt schneller vonstatten gehen wird, sollten von Carry-Portfolios mit mittlerer bis langer Duration Abstand nehmen, da die künftigen langfristigen Zinsen über den Forwards liegen werden. Das Gegenteil ftt ill Tupp, nehl awj Nddzvoxvcg brwjmpjk, pdmu put Yfofyugwscvgf leva Wbyu twn oaz Gixdaupmquvnca qfrutblkp, nsotx cxb fgv Wzlatd vskeph dizxgjx dndfsq, rfj ucqm pumhj, sblv eit ljookwythzjk Shwckig-Wdorh ldukv vxm kwqxj jvmquqtckv clemea. Vp wywlzu Dmrjwslf eniycf Zibzh-Wrkxpvsmfu cdydmiemcj.
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