Interest rate term structure is a core concept, not only in the economics and finance theories, but also in the pricing of fixed-income products.

无论对于经济和金融理论，还是对于固定收益产品的定价，利率期限结构都是一个核心概念。

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According to the tenet of traditional economics, interest rate can adjust automatically the credit market to equilibrium on the premise of perfect information and zero transaction costs.

传统经济理论认为，在完全信息和零交易费用的前提下，利率的变动会自动调整信贷资金的供给和需求使市场自动处于均衡状态。

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But this correlation seems to be caused more by global factors interest-rate changes, inflationary expectations and so on than by the economics of individual countries.

ECONOMIST: Economics focus