Practical Applications of Forward Curve Shifts and Return Convergence

Abstract

As this report was being written, the question on everyone’s lips was, “When will the Federal Reserve raise interest rates?” If you’re a long-term investor with a bond portfolio, here’s a refreshing take on what the answer to that should mean to you: Nothing.

In an exclusive interview with Institutional Investor Journals, Marty Leibowitz, Stan Kogelman and Anthony Bova explain the practical applications of their theoretical article in The Journal of Portfolio Management’s 40th Anniversary Issue .

In the steady world of fixed income, new discoveries are seemingly few and far between. But the findings of this research are scintillating. Leibowitz, Kogelman and Bova revel in the serendipitous revelations that culminated in Forward Curve Shifts and Return Convergence (JPM 40th), the updated edition of Inside the Yield Book and related research in The Financial Analysts Journal .