It’s about how if you slide the probability of, say, bond yeilds going up, to be more likely, that makes the probablity of bonds yeilds going down or staying the same less likely. We can’t say, “I think that there is a 40% chance of bond yeilds going up, and a 70% chance of bond yeilds going down or staying the same.”
It’s about how if you slide the probability of, say, bond yeilds going up, to be more likely, that makes the probablity of bonds yeilds going down or staying the same less likely. We can’t say, “I think that there is a 40% chance of bond yeilds going up, and a 70% chance of bond yeilds going down or staying the same.”