= Forward-measure terminal rate in a linear bond model
{title2=$\mathbb E^{Q^T}[r_T\mid\mathcal F_t]=e^{-(T-t)}r_t/P(t,T)$}
For the bounded rate diffusion of <linear bond pricing in a bounded short-rate diffusion>, $D_te^{-(T-t)}r_t$ is a bounded <martingale> with terminal value $D_Tr_T$. Dividing its <conditional expectation> by $D_tP(t,T)$ through the <Bayes formula for conditional expectation> gives the displayed forward-measure <expectation>. It lies between zero and one.
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