【PPT精品课件】货币金融学7版英文课件--6-大学课件20.pptVIP

;Risk Structure of Long-Term Bonds in Canada;Increase in Default Risk on Corporate Bonds;Analysis of Figure 6-2: Increase inDefault Risk on Corporate Bonds;Bond Ratings ;Corporate Bonds Become Less Liquid;Tax Advantages of Municipal Bondsin the United States;Analysis of Previous Figure: Tax Advantages of Municipal Bonds;Term Structure Facts to be Explained;Interest Rates on Different Maturity Bonds Move Together;Yield Curves;Expectations Hypothesis;Expected Return from Strategy 1;Expected Return from Strategy 1;Expectations Hypothesis and Term Structure Facts;1. When short rates are low, t