| 单词 | term structure of interest rates |
| 释义 | term structure of interest rates The relation between the redemption date of various securities and the rates of return on them. The market prices of securities fluctuate with the rate of interest, and these fluctuations become larger as maturity dates increase. It is thus expected that if investors are risk-averse, and on average interest rates are expected to stay the same, longer-dated securities will have higher rates of return than shorter-dated ones. If the term structure is displayed graphically as a yield curve, this will slope upwards as maturity dates rise. This slope may be reversed if on average interest rates are expected to fall, while expectations of rising interest rates will tend to make it steeper. |
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