来自《耶鲁大学开放课程：金融理论 第9集 第9集》

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  So why is that?
  为什么会这样呢
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  Okay, well, remember, the yields, you know--
  还记得那个曲线么
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  when you do a 5 year coupon bond, you're discounting all the cash flows,
  当计算五年期息券时 考虑了所有现金流
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  the previous 4 cash flows, using the same yield to discount them all.
  前四年的利息都用相同的收益率来折现
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  So if you go from year 4 to year 5, and you have to raise the yield a lot,
  比较4年和5年债券 收益率会提高
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  it means, you know, like if you're a batter, and your average goes up.
  就像做为击球手 你的平均值提高了
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  It means the last thing you did was better than the average of
  这意味着你现在做的比以前平均水平好
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  what you've done before, so it's going to be even higher.
  安达率也因此更高了
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  If your average was .300,
  如果安打率是0.3
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  and then you played a series against the Red Sox in which you did very well
  然后你和红袜队较量了几回合
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  and your average went up to .320, in that series against the Red sox,
  你的安打率提高到了0.32
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  you obviously did even better than .320, because you have to average
  你明显做的好多了