The difference between those two somehow reflects what interest rates will be between one and two.

两者之间的差异在一定程度上反映了,第一年后开始的一年期远期利率

耶鲁公开课 - 金融市场课程节选

I showed you a one-year Treasury bill rate for right now-- that's not right now, but you can see I have a one-year and a two-year Treasury bill rate.

一年期国债利率的期限结构图,现在没有了,但你们看过了,一年期和两年期的国债利率

耶鲁公开课 - 金融市场课程节选

What Hicks said is that in these term structures, actually, I've just showed the one-period, he had one-period forward rate-- but you could do it over any combination and you can get forward rates of any maturity at any future date.

希克斯指出利率期限结构中,我刚才给你们演示了,希克斯是如何推导一年期远期利率的,但是你们通过其他组合重新推导,还算出未来任意时刻,期限的远期利率

耶鲁公开课 - 金融市场课程节选

The idea of a forward rate is that, implicit in that term structure is also a quote for the one-year rate, one year hence, because if you look at the two-year rate, can't you infer back what interest rates are going to be in one year?

远期利率隐含在期限结构中的,一年期利率报价,起息日是第二年初,因为如果你知道了两年即期利率,就可以很自然地推出一年即期利率

耶鲁公开课 - 金融市场课程节选