haku: @indexterm TIME SPAN ANALYSIS / yhteensä: 23
viite: 6 / 23
Tekijä: | Livingston, M. |
Otsikko: | Flattening of bond yield curves. |
Lehti: | Journal of Financial Research
1987 : SPRING, VOL. 10:1, p. 17-24 |
Asiasana: | BONDS RETURN ON INVESTMENT TIME SPAN ANALYSIS |
Kieli: | eng |
Tiivistelmä: | A review of how if no restrictions are put on forward interest rates, the yield curves of coupon-bearing bonds become flat for long maturities, with an illustration of how weak restrictions on forward rates implies a flattening of bond yield curves for 10 to 15 year maturities. The study shows that the explanations do not necessarily explain empirically observed flattening and the difference between yield-to-maturity and zero coupon discount rate can be considerable for maturities of 10 to 12 years. |
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