A US-based hedge fund manager expects an economic recession and would like to use high yield index-based CDS in order to profit under this scenario. The manager has the following instruments available to consider in her portfolio: a.) Explain how the slope of the high yield credit curve is expected to change when the economy shifts from a peak growth to a contraction phase and describe how the manager might use the above instruments to position herself to gain from this economic change. b.) Calculate the 5-year high yield CDX contract notional that matches the dollar value of a basis point or money duration of a 10 -year, $10,000,000 high yield CDX contract. A US-based hedge fund manager expects an economic recession and would like to use high yield index-based CDS in order to profit under this scenario. The manager has the following instruments available to consider in her portfolio: a.) Explain how the slope of the high yield credit curve is expected to change when the economy shifts from a peak growth to a contraction phase and describe how the manager might use the above instruments to position herself to gain from this economic change. b.) Calculate the 5-year high yield CDX contract notional that matches the dollar value of a basis point or money duration of a 10 -year, $10,000,000 high yield CDX contract