AN UNBIASED VIEW OF PNL

Which depends on the rebalancing frequency. But "anticipated P&L" refers to a median around all feasible rate paths. So there is not necessarily a contradiction right here. $endgroup$Kurt G.Kurt G. 2,38944 silver badges1717 bronze badges $endgroup$ 3 $begingroup$ Many thanks quite a bit for taking the time to answer. Because of your very last equal