<p>Michelle and Vox unpack why forward rates are often more useful than ordinary yields by maturity when investors want to map future rate pressure. The episode explains where forward rates help, where term premium still distorts them, and why model-estimated short-rate paths are a cleaner guide for macro and policy analysis.</p>

Michelle and Vox unpack why forward rates are often more useful than ordinary yields by maturity when investors want to map future rate pressure. The episode explains where forward rates help, where term premium still distorts them, and why model-estimated short-rate paths are a cleaner guide for macro and policy analysis.

S1E128 - When a Forward Rate Still Isn't the Fed's Forecast

Thinking in Markets focuses on the structure behind global markets — time, liquidity, and the interaction between futures and cash sessions. From macro instruments like rates and FX to equities across Asia, Europe, and the U.S., each episode turns complex systems into simple, durable frameworks.

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S1E128 - When a Forward Rate Still Isn't the Fed's Forecast

S1E128 - When a Forward Rate Still Isn't the Fed's Forecast