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Yield curve

Definition: [crh] The graphic depiction of the relationship between the yield on bonds of the same credit quality but different mDefinition: aturities. Related: Term structure of interest rates. Harvey (1991) finds that the inversions of the yield cuDefinition: rve (short-term rates greater than long term rates) have preceded the last five US recessions. The yield curve can accurately forecast the turning points of the Definition: business cycle.

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