Exercise 5.5.1 Prove the following statements: (1) The spot rate dominates the yield to maturity when the
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Exercise 5.5.1 Prove the following statements: (1) The spot rate dominates the yield to maturity when the yield curve is normal, and (2) the spot rate dominates the yield to maturity if the spot rate curve is normal, and it is smaller than the yield to maturity if the spot rate curve is inverted.
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Financial Engineering And Computation Principles Mathematics Algorithms
ISBN: 9780521781718
1st Edition
Authors: Yuh-Dauh Lyuu
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