As explained in Prof. Robert Jarrow’s book cited below, forward rates contain a risk premium above and beyond the market’s expectations for the 3-month forward rate. We document the size of that risk ...
2031 GMT – The 10-year yield rose 0.020 percentage point to 4.170% today. The price fell 5/32 to 98 20/32. —Yield is up for two consecutive trading days —Yield is up 0.053 percentage point over the ...