3 Questions
¿Cuál es la teoría que asume que los inversores prefieren los bonos a corto plazo, pero tienen cierta preferencia por diferentes vencimientos?
Teoría de los mercados segmentados
¿Qué indica la curva de rendimiento?
Las expectativas de los inversores, especialmente en relación con la inflación.
¿Cuál es la fórmula para calcular la tasa de interés de un bono a largo plazo?
La tasa de interés a largo plazo es igual al promedio de las tasas de interés a corto plazo hasta el vencimiento más una prima de liquidez.
Study Notes
- The risk structure includes the risk of default, liquidity, and taxes affecting interest rates.
- The yield curve indicates investor expectations, especially regarding inflation.
- The usual trend is for long-term interest rates to be higher than short-term rates.
- When short-term rates are low, long-term rates are often high, and vice versa.
- Bond interest rates for different terms move together.
- The theory of expectations assumes people have no preference for bonds with different maturities.
- The theory of segmented markets assumes investors prefer short-term bonds.
- The theory of liquidity premium assumes investors prefer short-term bonds but have some preference for different maturities.
- The interest rate on a long-term bond is the average of short-term rates until maturity plus a liquidity premium.
- The theories help explain the shape of the yield curve.
Discover how interest rates work with our quiz on the risk structure, yield curve, and theories of expectations, segmented markets, and liquidity premium. Test your knowledge on why long-term rates are usually higher, how short-term rates affect long-term rates, and why investors prefer certain bond maturities. Learn how these theories explain the shape of the yield curve and become an expert on interest rates.
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