Local expectations hypothesis

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Local expectations hypothesis (LEH)

Theory that bonds similar in all aspects except maturity will have the same holding-period rate of return.

Local Expectations Hypothesis

A theory that bonds identical in every way except the length of maturity will have the same rate of return over a holding period. That is, if an investor buys the same amount of two bonds, each paying 5% interest payable twice per year but with one having a maturity of 10 years and the other 15, the investor will receive the same return from each bond if he/she holds both for the same amount of time. This is because the coupon payments are identical for both bonds, and coupons form the bulk of a bond's return.
References in periodicals archive ?
Dr Amir said that surveillance of the border areas of the federal capital has been completed and special focus was being given to areas adjacent to Leh as garbage thrown in the Nullah was a major source of dengue spread.
From Srinagar, in a fleet of Audi Q3/Q5/Q7 class and Mercedes ML and GL class, the team made its way to Kargil, onward to Leh.
Partially treated city sewage of Islamabad entering Leh Nullah had BOD values 68-72 ppm with an average value of 70.
Kingfisher Airlines, Jet Airways Indian Airlines provided free cargo space for the Leh relief material which enabled CDRN in efficient logistics and helped in economizing relief operations.
Singh visited Choglamsar, a village about 12 km from Leh worst- hit by the disaster, and announced that all the damaged houses there would be rebuilt within two months.
Sources said some local politicians are also creating hurdles in the way of removing encroachments from banks of Leh, which is the main cause of floods.
Even in summer, takeoffs and landings at Leh's airport (among the world's highest) require optimal weather; incoming flights may not be able to land, and many flights leave Leh only half-loaded so the jet can rise quickly enough from the narrow valley.
Chairing a meeting to review anti-dengue arrangements, he said with the cooperation of Waste Management Company survey is being carried out in areas adjacent to Nullah Leh.
The flight returned to the Leh airport at around at 9:30 am.
He said that during monsoon, the land sliding occurred in the area and it damaged the oldest graveyard and the residential areas around the Leh Nullah.
Rawalpindi -- Municipal Corporation has demolished 15 illegal cattle pens and impounded goods on either side of Nullah Leh .