Can someone explain why an upward sloping yield curve generally creates a target rate below the YTM. I understand the reinvestment return is lower, but why? Examples? Thanks
Was this mentioned in Schweser as I don’t remember this?
Can someone explain why an upward sloping yield curve generally creates a target rate below the YTM. I understand the reinvestment return is lower, but why? Examples? Thanks
Was this mentioned in Schweser as I don’t remember this?