L3 Book 5 Convenience Yield & Roll Return(answered, thanks to forest-Hu)

在commodity future中提到了关于convenience yield 和 roll return的关系，有没有TX解释一下下面这句话的关系呢？谢谢啦！

All else being equal, an increase in a commodity’s convenience yield (the nonmonetary benefit from owning the spot commodity) should lead to futures market conditions offering higher roll returns; the converse holds for a decline in convenience yields.

[此贴子已经被作者于2011-5-26 13:33:06编辑过]