It is known that the spot price of bonds is 8.3% and the futures price is 8.5%. It is also known that the future spot price and futures price will be 8.45%. What is the hedging rate in the case of complete hedging? Hedging rate refers to the ratio of the total value of futures contracts to the total value of spot contracts determined by hedgers when establishing trading positions.

Let the spot market loss be A, the futures market profit be B, UA = 8.45%-8.3% B = 1-8.45%, 1-8.5%, =0.05%, that is, A=3B is complete.

Hedging means that the losses in the spot market are just offset by the futures market. So the hedging rate should be 300%