利率期限结构，又称为收益率曲线，是指在某个时点上不同期限的零息债券到期收益率所组成的一条曲线。
Term structure of interest rate, which is also called the yield curve, plots a set of yield to maturity of the zero-coupon bonds with different maturities.
指债券持有人有权在债券到期前的某一约定时点将债券卖还给发行人，这种债券称为可卖回债券。
A bond is described as puttable, or having a put feature, when the holder has the right to sell the bond back to the issuer at a specific date before maturity.
期限结构线先向下倾斜，在到期期限过了两年半的时点后，才缓慢回升。
Then the — so the term structure was downward-sloping until about two and a half years and then it was upward sloping.
期限结构线先向下倾斜，在到期期限过了两年半的时点后，才缓慢回升。
Then the — so the term structure was downward-sloping until about two and a half years and then it was upward sloping.
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