标题: immunication target rate of return [打印本页] 作者: Howd 时间: 2011-7-11 19:48 标题: immunication target rate of return
This is from curriculum, anyone can help me understand the relationship here? Thanks
"For an upward-sloping curve, the immunization target rate of return will be less than the yield to maturity because of the lower reinvestment return. Conversely, a negative or downward sloping yield curve will result in an immunization target rate of return greater than the yied to maturity because of the higher reinvestment return."
