Yield Curves

There's no single interest rate for instruments at different maturities. A yield curve is the representation of market interest rates across all maturities, for comparable credit risk, calculated on a consistent basis. Here we take a look at how the yield curve illustrates the term structure of interest rates. This can see the yield curve take on different shapes as interest rate expectations change. The rates used in the yield curve can be discounted to give the zero spot curve. Finally we see the different theories on the shape of the yield curve.