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《Financial Market Research》 2017-04
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How Much should We Read into Shifts in Long-dated Yields

Hyun Song Shin;  
The usefulness of long-term bond yields as a guide to future interest rate trends is often overstated, especially as a turning point in the interest rate cycle approaches. This paper argues that longer term yields are far from being a clear window on the future. Moreover, low yields often reflect very ordinary motivations of individual investors and often have only a limited link to future trends. The paper also attempts to explore the potential drivers of long-term returns as yields change.
【CateGory Index】: F831.51
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