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Is this statement ture or false? conclusion. Statement: In case the spot rate term structure {St} is normal curved (namely, increasing function of t ),

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Is this statement ture or false?

conclusion. Statement: "In case the spot rate term structure {St} is normal curved (namely, increasing function of t ), then {ft}, the one-year forward rate covering the interval [t;t+1] will also be increasing function of t ". conclusion. Statement: "In case the spot rate term structure {St} is normal curved (namely, increasing function of t ), then {ft}, the one-year forward rate covering the interval [t;t+1] will also be increasing function of t

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