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Quotes of the day:
Success and failure are both difficult to endure. Along with success come drugs, divorce, fornication, bullying, travel, meditation, medication, depression, neurosis and suicide. With failure comes failure.
The Heath-Jarrow-Morton Model (HJM Model) is used to model forward interest rates. These rates are then modeled to an existing term structure of interest rates to determine appropriate prices for interest rate sensitive securities.
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