Question
Focusing on bonds that are identical in terms of their risk structures, explain briefly why bonds having different times to maturity would not be considered
Focusing on bonds that are identical in terms of their risk structures, explain briefly why bonds having different times to maturity would not be considered perfect substitutes. What does this imperfect substitutability imply about the term premium?
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Introduction To Financial Technology
Authors: Roy S. Freedman
1st Edition
0123704782, 9780123704788
