@article {Howell115, author = {Michael J. Howell}, title = {Measuring Bond Investors{\textquoteright} Risk Appetite Using the Interest Rate Term Structure}, volume = {28}, number = {6}, pages = {115--127}, year = {2019}, doi = {10.3905/joi.2019.28.6.115}, publisher = {Institutional Investor Journals Umbrella}, abstract = {The distribution of term premia includes additional information beyond that contained in the traditional three-parameter decomposition of the Treasury yield curve. The author finds that the position and the size of the curvature hump are both important. A yield curve hump positioned at longer maturities appears to be consistent with lengthier time horizons of investors and with more risk-seeking behavior. The author finds that this new parameter Granger drives both future US economic activity and bond returns.TOPICS: Fixed income and structured finance, fixed-income portfolio management, statistical methods}, issn = {1068-0896}, URL = {https://joi.pm-research.com/content/28/6/115}, eprint = {https://joi.pm-research.com/content/28/6/115.full.pdf}, journal = {The Journal of Investing} }