Yield curves are graphs of the relationship between the yield and time to maturity (holding other factors constant) for a homogeneous group of securities. Yield curves are typically downward sloping, but can also be flat or upward sloping.

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Yield curves can have different shapes depending on various factors, but the most common shape is downward sloping, indicating that longer-term securities have higher yields than shorter-term securities. Flat or upward sloping yield curves are less common but can still occur under certain conditions.

Yield Curves Are Graphs of the Relationship Between the Yield