BondStats
Learn / Formula / Forward Rate
YIELD CURVE

Forward Rate

Derives an implied future rate from spot rates under a specified compounding convention.

Formula

1+f_(1,2) = (1+s2)^2/(1+s1)

Variables: s1 one-period spot; s2 two-period spot; f forward rate

What it means

Derives an implied future rate from spot rates under a specified compounding convention.

Example

Use the 1-year and 2-year spot rates to infer the one-year rate beginning one year forward.

How to interpret it

This concept should be read together with its market convention, measurement horizon and underlying instrument. BondStats presents it as an analytical reference rather than investment advice; instrument documentation and primary market rules remain authoritative.

BondStats reference content is independently written. Mathematical relationships, abbreviations and market conventions are presented for educational and analytical use.