This is January of this year, before the Fed cut interest rates, and this is the term structure.

这是今年一月,联储局降息前的期限结构图

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You've already seen last year's mid-term and it's going to look a lot like that.

去年的题目已经发下去了,今年的题目也会差不多

耶鲁公开课 - 金融市场课程节选

And you'll find too because of J term this year or winter break where you guys can finally come back onto campus a bit early for various opportunities.

你还会发现由于今年的J学期或寒假,大家可以早点返回校园,这会带来各种机会。

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Look how--this is as of earlier this year; the Federal Funds Rate was at around 4% and it has this huge drop in the term structure and then it starts the upward-sloping.

这是今年早些时候的图形,当时联邦利率徘徊在4%,但期限结构,在此处急转直下之后又开始掉头向上

耶鲁公开课 - 金融市场课程节选