Lesson 1
The Development of a Home Price Futures Market Part 1
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Futures markets have expanded far beyond their initial application to farmer's planting and harvest cycles. These markets now allow investors and traders to set prices for a broad spectrum of assets and for a whole term structure stretching into the distant future. Futures markets can be in backwardation, where the future price is lower than the present, spot price. They can also be in contango, where the price rises with maturity and is higher in the future than it is today. Shiller, Robert J. ECON 252, Financial Markets (2008), Spring 2008. Yale OpenCourseWare: Economics, Accessed 25/9/14 http://oyc.yale.edu/economics/econ-252-08/lecture-22 License: Creative Commons BY-NC-SA

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