4 ms·
If that was the market clearing price, then to the extent that rate expectations set the bond price (which of course is debatable) this would have been the cons
by abm53 4y ago
If that was the market clearing price, then to the extent that rate expectations set the bond price (which of course is debatable) this would have been the consensus view at the time.
- Dylan16807 4y agoYou can't really capture consensus with a single number. Maybe the market expects a likely range of 1%-2%. Maybe the market expects a likely range of 0%-5%. Those could both have an expected value of 1.5%, with much different levels of risk for this use case.