That ratio is 1 i^_t. Okay, any questions about that? Yes?

这个值就是i^t 有问题吗 请讲

If the yield curve is downward sloping, yes.

如果收益曲线方向向下 是的

not far from the Acropolis and overlooking the agora.

它离卫城不远 在山上你可以俯瞰集会广场

and the speakers stood on a low platform.

而演讲者站在一个较低的讲台上演讲

That was way fewer responses than I wanted. Let's try again;

没几个人回答啊 我再问一遍

It's a demand curve. Thank you; it's a demand curve. That was the demand.

它叫需求曲线 感谢你的回答

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

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