Short-term interest rates are more volatile than long-term rates. Despite this, the rates of return of long-term
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Short-term interest rates are more volatile than long-term rates. Despite this, the rates of return of long-term bonds are more volatile than return on short-term securities. How can these two empirical observations be reconciled?
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Corporate Finance A Focused Approach
ISBN: 978-1439078082
4th Edition
Authors: Michael C. Ehrhardt , Eugene F. Brigham
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