4. (5 points) (KMM) The diagram below show four yield-curve (or term-structures of interest rates) for the Swedish market of Government bonds. The upper curve shows the interest rates for various maturities at the beginning of 2008, the lowest one for 2021, and the middle ones for 2014 and 2018. The first two are more or less horizontal, while the last two are upward sloping for longer maturities.Discuss various theories about the term-structure and explain what they imply about the possibility to forecast future interest rates. What does it imply if the term-structure is upward sloping most of Termstructure, Sweden, 2006-2021 2 Oto the time, and how would you explain that the most recent curve is almost horizontal