Original Chart from Econompic Data
19 November 2008
An Historic Divergence on the Long End of the Yield Curves
Category:
Credit Default Swaps,
divergence,
Yield Curve
“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot
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