For example, the "gradualist" pace of rate hikes by the Fed implies a 200 basis-point move in the instantaneous forward curve, which averages out to a slope of 100 basis points for a 1-year par ...

When the line is curved, the average and instantaneous velocities are most likely not the same. The average velocity from 0 s to 2 s is the slope of the light green line which passes through the ...