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1/ I am confused with Market Equilibrium, do you have to calculate equilibrium or no? 2/ Can someone explain marginal liquidity service VS marginal yield

1/

I am confused with Market Equilibrium, do you have to calculate equilibrium or no?

2/

Can someone explain marginal liquidity service VS marginal yield on bonds?

3/

On Bond Ratings by Moody, S&P, and Fitch, the lecture video states that all ratings below B3/B- were considered to be Junk Bond. The Module Notes say "Bonds rated BB+ (Ba1) and below are considered "junk bonds"".

Which one is correct?

4/

How do you calculate Expectations Theory? I know how to calculate kind of but there are some parts that I get confused.

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