a. The following graph shows the interest rates on 20-year Baa corporate bonds (blue line) and 20-year U.S. Treasury bonds (red line). The spread (difference) between the yields on these two kinds of bonds become much larger during the 2008 financial crisis as well as at the beginning of the current pandemic. FRED - Moody's Seasoned Bas Corporate Bond Yield - 20-Year Treasury Constant Maturity Rate 10 8 7 2 1 2006 2008 2010 2012 2014 2016 2018 2020 (1pt) What is the main factor behind these spikes in the spread? b. (5pt) Use the bond supply and demand framework with graph(s) to illustrate why your answer to part a. can explain these spikes in the spread between the yields. C. (2pt) What do we call the investors' behavior observed in your answer to part b.? a. The following graph shows the interest rates on 20-year Baa corporate bonds (blue line) and 20-year U.S. Treasury bonds (red line). The spread (difference) between the yields on these two kinds of bonds become much larger during the 2008 financial crisis as well as at the beginning of the current pandemic. FRED - Moody's Seasoned Bas Corporate Bond Yield - 20-Year Treasury Constant Maturity Rate 10 8 7 2 1 2006 2008 2010 2012 2014 2016 2018 2020 (1pt) What is the main factor behind these spikes in the spread? b. (5pt) Use the bond supply and demand framework with graph(s) to illustrate why your answer to part a. can explain these spikes in the spread between the yields. C. (2pt) What do we call the investors' behavior observed in your answer to part b