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Investing Glossary:
Term structure of interest rates
Copyright 2010,
Campbell R. Harvey. All Rights Reserved.
Do not reproduce without explicit permission.
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| Term: |
| Term structure of interest rates
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| Definition: |
| Relationship between Interest rates on Bonds of different maturities, usually depicted in the form of a graph often called a yield curve. Harvey shows that inverted Term structures (long rates below Short rates) have preceded every Recession over the past 30 years.
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