The next slide decomposes long-term nominal yields into expected future short-term real rates, expected future inflation, and a term premium. These estimates are based on one of the Board’s workhorse term structure models. 3 All three components have contributed to the downward trend in long-term nominal yields.
Now coming to the event, which has brought the public debt managers and experts from the SAARC countries under one roof to exchange knowledge with one another, I am sure it will be a memorable one for all the delegates.