The majority of investors are well acquainted with benchmark analysis and selection when it comes to gauging the all-important performance of investments and investment managers.
Most also watch interest rate moves closely in anticipation of future impact – helping assess competing assets’ yields, determine price forecasts, fair value, mortgage payments, present values of future liabilities and more. What might not immediately occur to most investors, however, is how these interest rate benchmarks are constructed in the first place. The methodologies for setting the interest rates, that so very many of our investment deliberations and calculations hinge upon, are undergoing an overhaul....
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