A properly immunized bond portfolio means that your actual return on investment will: Be no lower than the risk-free Treasury bill rate. Be no lower than the promised YTM at the time of purchase. Be no lower than market yields in normal yield curve erwironments. Always be equal to zero. Be no lower than the YTM at the time of sale. Question 17 2 pts Which of the following is not a characteristic of money market securities? The banker's year (360 days) is used by convention Original maturity at issuance is always less than one year There is never any default risk Simple interest conventions are used o Structured as pure discount bonds Question 18 2 pts Which of the following financial instruments does not trade in the so-called "money market"? Negotiable bank CDs (certificates of deposit) Banker's acceptances Commercial paper O US Treasury STRIPS O US Treasury Bills