Question: When the forward rate volatility s(t, T) in HJM is constant, the Ho-Lee model results. Verify that this is true by showing that HJM gives

"When the forward rate volatility s(t, T) in HJM is constant, the Ho-Lee model results." Verify that this is true by showing that HJM gives a process for bond prices that is consistent with the Ho-Lee model in Chapter 32.

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