{"id":1424,"date":"2024-05-12T18:43:06","date_gmt":"2024-05-12T18:43:06","guid":{"rendered":"https:\/\/eoninvestment.com\/?p=1424"},"modified":"2026-04-16T10:57:46","modified_gmt":"2026-04-16T06:57:46","slug":"unbiased-expectations-theory","status":"publish","type":"post","link":"https:\/\/eoninvestment.com\/ka\/2024\/05\/12\/unbiased-expectations-theory\/","title":{"rendered":"<span class=\"eon-recovered-georgian-title\" data-no-translation=\"\">\u10db\u10d8\u10e3\u10d9\u10d4\u10e0\u10eb\u10dd\u10d4\u10d1\u10d4\u10da\u10d8 \u10db\u10dd\u10da\u10dd\u10d3\u10d8\u10dc\u10d8\u10e1 \u10d7\u10d4\u10dd\u10e0\u10d8\u10d0<\/span>"},"content":{"rendered":"<p class=\"wp-block-paragraph\"><strong>Unbiased Expectations Theory<\/strong> &#8211; What are the market&#8217;s expectations regarding interest rates?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Unbiased Expectations Theory essentially states that long-term interest rates are determined by the expected short-term interest rates for each subsequent period.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The intuitive reasoning is as follows: if an investor expects that interest rates on one-year bonds will increase in each subsequent period and they can buy one-year bonds each period, then the current spot rate for a five-year bond should ensure a return that is in parity with these expectations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can find actual figures about the rates at the following link:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/markets.ft.com\/data\/bonds\">https:\/\/markets.ft.com\/data\/bonds<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">*Financial Markets and Institutions &#8211; by A. Saunders, M. Cornett &#038; O. Erhemjamts<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/i0.wp.com\/eoninvestment.com\/wp-content\/uploads\/2024\/05\/image-56.png?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"483\" data-attachment-id=\"5880\" data-permalink=\"https:\/\/eoninvestment.com\/ka\/2024\/05\/12\/unbiased-expectations-theory\/image-341\/\" data-orig-file=\"https:\/\/i0.wp.com\/eoninvestment.com\/wp-content\/uploads\/2024\/05\/image-56.png?fit=800%2C483&amp;ssl=1\" data-orig-size=\"800,483\" data-comments-opened=\"1\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/eoninvestment.com\/wp-content\/uploads\/2024\/05\/image-56.png?fit=800%2C483&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/eoninvestment.com\/wp-content\/uploads\/2024\/05\/image-56.png?resize=800%2C483&#038;ssl=1\" alt=\"\" class=\"wp-image-5880\"\/><\/a><\/figure>","protected":false},"excerpt":{"rendered":"<p>Unbiased Expectations Theory &#8211; \u10e0\u10d0 \u10db\u10dd\u10da\u10dd\u10d3\u10d8\u10dc\u10d8 \u10d0\u10e5\u10d5\u10e1 \u10d1\u10d0\u10d6\u10d0\u10e0\u10e1 \u10e1\u10d0\u10de\u10e0\u10dd\u10ea\u10d4\u10dc\u10e2\u10dd \u10d2\u10d0\u10dc\u10d0\u10d9\u10d5\u10d4\u10d7\u10d4\u10d1\u10d8\u10e1 \u10db\u10d8\u10db\u10d0\u10e0\u10d7?\u10dd\u10d1\u10d8\u10d4\u10e5\u10e2\u10e3\u10e0\u10d8 \u10db\u10dd\u10da\u10dd\u10d3\u10d8\u10dc\u10d4\u10d1\u10d8\u10e1 \u10d7\u10d4\u10dd\u10e0\u10d8\u10d0, \u10e8\u10d8\u10dc\u10d0\u10d0\u10e0\u10e1\u10dd\u10d1\u10e0\u10d8\u10d5\u10d0\u10d3 \u10d0\u10db\u10d1\u10dd\u10d1\u10e1 \u10d4\u10e1\u10d4\u10d7 \u10e0\u10d0\u10db\u10d4\u10e1: \u10d2\u10e0\u10eb\u10d4\u10da\u10d5\u10d0\u10d3\u10d8\u10d0\u10dc\u10d8 \u10e1\u10d0\u10de\u10e0\u10dd\u10ea\u10d4\u10dc\u10e2\u10dd \u10d2\u10d0\u10dc\u10d0\u10d9\u10d5\u10d4\u10d7\u10d4\u10d1\u10d8 \u10d3\u10d0\u10db\u10dd\u10d9\u10d8\u10d3\u10d4\u10d1\u10e3\u10da\u10d8\u10d0 \u10db\u10dd\u10d9\u10da\u10d4\u10d5\u10d0\u10d3\u10d8\u10d0\u10dc\u10d8 \u10e1\u10d0\u10de\u10e0\u10dd\u10ea\u10d4\u10dc\u10e2\u10dd \u10d2\u10d0\u10dc\u10d0\u10d9\u10d5\u10d4\u10d7\u10d4\u10d1\u10d8\u10e1 \u10db\u10dd\u10da\u10dd\u10d3\u10d8\u10dc\u10d4\u10d1\u10d6\u10d4 \u10e7\u10dd\u10d5\u10d4\u10da \u10db\u10dd\u10db\u10d3\u10d4\u10d5\u10dc\u10dd \u10de\u10d4\u10e0\u10d8\u10dd\u10d3\u10e8\u10d8.\u10d8\u10dc\u10e2\u10e3\u10d8\u10ea\u10d8\u10e3\u10e0\u10d8 \u10db\u10e1\u10ef\u10d4\u10da\u10dd\u10d1\u10d0 \u10d0\u10e1\u10d4\u10d7\u10d8\u10d0: \u10d7\u10e3 \u10d8\u10dc\u10d5\u10d4\u10e1\u10e2\u10dd\u10e0\u10e1 [\u2026]<\/p>","protected":false},"author":12998525,"featured_media":1425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_eon_insights_quality":"","_eon_insights_decision":"","_eon_insights_destination":"","_eon_insights_merge_group":"","_eon_insights_required_changes":"","_eon_insights_start_order":0,"_eon_featured_insight":0,"_eon_insights_map_version":"","_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[774675918,37048],"tags":[4269,998075,6635],"eon_topic":[],"eon_learning_path":[],"eon_collection":[],"eon_level":[],"eon_content_type":[],"eon_source":[],"eon_idea":[784445689],"eon_framework":[],"class_list":["post-1424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-markets-and-institutions-by-a-saunders-m-cornett-o-erhemjamts","category-interest-rates","tag-finance","tag-interest-rate","tag-investing","eon_idea-interest-rates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - 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