Finance is happy when the Treasury curve and corporate yield curve are parallel on an X axis, and the two track. One is a ratio of the other. Their generators are homomorphic, and within their individual volatilities, the one curve tracks the other. Each 'channel' actually accounts for enough 'cummutative' property that it can track 'adiabatically', or node by node exchanges in the 'generator'. Hologram effect. the aggregate is actually finding the X axis that makes linear for all.
Like finite, approximate block chains.
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