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(B) The diagram below shows the impact of Credit Ratings on Bond Yields BBB Spread over Treasuries A AA AAA Maturity A bond investor has

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(B) The diagram below shows the impact of Credit Ratings on Bond Yields BBB Spread over Treasuries A AA AAA Maturity A bond investor has a portfolio of AA, A, BBB and BB corporate bonds from the same sector. The investor expects a declining yield spread between bonds with an AA and an A rating, while a widening yield between bonds with an AA and an BB rating, though the yields for BB rated 5 bonds remain constant. In anticipation of such move, the investor will adjust the weighting of these bonds. Which would he "overweight, underweight and neutral" based the expectation

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