Assume that the following relationship holds in the bond market: (1+R(0,3))=(1+R(0,1)+L1)(1+E[R(1,2)]+L2)(1+E[R(2,3)}+L3) If investors are risk neutral, can you think of a way that could make this relationship valid? All the risk premiums L should be positive All the risk premiums L should be zero Investors are indifferent to risk so premiums L can take any value. Investors are indifferent to risk so it is not possible for this relationship to hold under any circumstance