来自《耶鲁大学开放课程：金融理论 第9集 第9集》

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  to 2.9, which is bigger than 2.8,
  利率为2.9时 大于2.8的收益率
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  to 5, which is way more than 3.8,
  利率为5时 大于3.8的收益率
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  to 7.2, which is way more than that,
  7.2时大于同期收益率
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  to 9.6, which is way more than that.
  9.6时也大于同期收益率
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  So the forwards went up much faster than the yields.
  因此远期利率的增长速率远高于收益率
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  So why is that obviously going to be the case whenever the yield curve is upward sloping?
  那么为什么增长率曲线上升一定会这样呢
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  So if we go back to our picture here. We go back to our picture.
  如果我们回到这幅图 回头看这张图
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  If the yield curve were completely flat, what do you think the forward yields would be?
  如果收益率曲线是完全单调的
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  This is just common sense to see if you have any idea what's going on.
  根据常识我们就可以搞清楚这个问题
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  If you think about batting averages and how somebody's
  可以考虑一下平均成功率
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  average changes each time he bats--
  和平均成功率如何变化
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  if the yield curve is flat, like in 2006,
  如果收益率曲线水平 比如2006年