中文摘要：

研究了基于混合分数布朗运动的债券市场上的价格预测、马尔科夫短期利率和套利问题。根据布朗运动和分数布朗运动的性质以及计算方法，推导出了在风险中性度量下的债券价格的预测方程，证明了马尔科夫短期利率成立的充要条件，找到了可以实现套利的资产组合。

英文摘要：

In this article, we focus on the prediction for bond price, arbitrage and Markovian short rates in the bond markets based on mixed fractional Brownian motion. By using the properties and calculation method in the related theory of Brownian motion and fractional Brownian motion, we have derived the prediction formula for bond price, and have proved the sufficient and necessary condition for Markovian short interest rates. Meanwhile, a portfolio capable of realizing the arbitrage is given.