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单词 local expectations hypothesis (LEH)
释义

local expectations hypothesis (LEH)

Definition
A theory stating that two bonds with the same characteristics except for different maturity periods will provide the same rate of return over a given holding period. This theory is based on the observation that most of the return on bonds is realized through coupon payments, which are identical for both bonds in the theoretical example.
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更新时间:2025/4/17 15:31:06