1. Graph the current yield curve (see the section “Time to Maturity,” p. 282), plotting the interest rate on bonds with different maturities against their time to maturity, using data from the ECB (https://www.ecb.

europa.eu/stats/financial_markets_and_interest_ rates/euro_area_yield_curves/html/index.en.html).

Then look at the same curve from ten years earlier.

What has happened to the term structure of interest rates over the past year? What economic events do you think have led to this change?