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21. (Bonus Question) a. Discuss the implication of term spread (e.g., 10year rate - 3month rate) for business cycle. What is the level of US
21. (Bonus Question) a. Discuss the implication of term spread (e.g., 10year rate - 3month rate) for business cycle. What is the level of US term spread around year 2019 4th quarter? b. As a portfolio manager, under current market condition (Russia-Ukraine conflict, global economic inflation risk, US interest rate hiking, etc.), how would you construct your portfolio? And why
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