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The forward curve cannot be observed on the market and therefore has to be estimated. The most common curve-fitting methods can be represented as a parametrized family of smooth curves \\({\\mathcal{G}}=\\{ G(. ,z): z \\in {\\mathcal{Z}}\\}\\) with some finite dimensional parameter set \\({\\mathcal{Z}}\\).    This monograph is an excellent and thorough review of the current work in the study of consistent (arbitrage free) stochastic models for \\(z\\). The author presents a systematic study of this consistency problem in a very general framework that includes many known results as well as some new insights and challenging open questions.    The book provides a brief introduction to infinite dimensional stochastic analysis in order to present the Heath-Jarrow-Morton methodology in a functional analytic framework that incorporates an infinite-dimensional driving Brownian motion. The Musiela parametrization leads to a stochastic equation in a Hilbert space \\(H\\) that describes the arbitrage-free evolution of the forward curve. In this setting, the family \\({\\mathcal G}\\) is just a subset of \\(H\\) and the consistency considerations are transformed into a stochastic invariance problem. Some general results on stochastic invariance for finite dimensional submanifolds in a Hilbert space are deduced. 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