There are two kinds of methods for deduction of zero coupon bond yield curve: direct method and indirect method.

直接法和间接法是零息票债券收益率曲线推导的两种方法。

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Term structure of interest rate, which is also called the yield curve, plots a set of yield to maturity of the zero-coupon bonds with different maturities.

利率期限结构，又称为收益率曲线，是指在某个时点上不同期限的零息债券到期收益率所组成的一条曲线。

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Considering that quantitative easing is effectively the same as an interest rate cut below a zero bound, the yield curve is very steep even with 10-year yields just below 2%.

FORBES: Interest Rates, Equities And Bonds: Getting Ahead Of The Curve

It is unnatural to have interest rates close to zero and to distort the yield curve by pegging longer-run bond prices at artificially high levels and suppressing yields.

FORBES: The Limits Of Monetary Policy Call For Moral, Sound Money

Pegging the federal funds rate close to zero for another three years and twisting the yield curve to lower longer-term rates will continue to misprice credit, penalize saving, and encourage risk.

FORBES: The Limits Of Monetary Policy Call For Moral, Sound Money