---
title: Macro Strikes Back: Term Structure of Risk Premia and Market Segmentation
url: https://www.ml-quant.com/papers/ssrn/4752696/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4752696
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4752696
featured: 2024-03-13
citations: 3
topic: Asset Pricing & Factors
---


# Macro Strikes Back: Term Structure of Risk Premia and Market Segmentation

A unified framework reveals that most macroeconomic factors have increasing unconditional term structures with large risk premia at business cycle horizons.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4752696
- Identifier: SSRN 4752696
- Released: 2024-03-08
- First featured: Quant Letter No. 40 (2024-03-13): https://www.ml-quant.com/issues/2024-03-13/
- Citations (Semantic Scholar): 3
- Published in: not yet
- Topic: Asset Pricing & Factors

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