January Editor’s Choice: “Risk-free Interest Rates” Feb 13 Written By Toni Whited Jules H.van Binsbergen, William F.DiamondMarcoGrotteria Treasuries earn a convenience yield of ~40 basis points. Convenience yields triple in the 2008 financial crisis, are reduced by monetary stimulus, and forecast bond returns. Toni Whited
January Editor’s Choice: “Risk-free Interest Rates” Feb 13 Written By Toni Whited Jules H.van Binsbergen, William F.DiamondMarcoGrotteria Treasuries earn a convenience yield of ~40 basis points. Convenience yields triple in the 2008 financial crisis, are reduced by monetary stimulus, and forecast bond returns. Toni Whited