tag:blogger.com,1999:blog-5908830827135060852.post9216008193834392362..comments2019-08-22T09:42:05.978-04:00Comments on Bond Economics: Increasing The Range Of Irrelevance Of r*Brian Romanchukhttp://www.blogger.com/profile/02699198289421951151noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5908830827135060852.post-72236891993749705572018-01-03T11:22:20.937-05:002018-01-03T11:22:20.937-05:00"influence" rater than "determine.&..."influence" rater than "determine." Benchmarks influence contingently but do not necessarily determine. The underlying logic influences the math used to express it.<br /><br />The policy rate is a rate that influences the yield curve based on expectations. The ten year yield influences the prime rate, which is the base commercial rate to which a risk, premium is added for less creditworthy borrowers. <br />Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.com