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e-year Treasury securities yield 3.85%. The market anticipates that 1 year from now, 1 year Treasury securities will yield 4.5%. If the pure ectations theory

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e-year Treasury securities yield 3.85%. The market anticipates that 1 year from now, 1 year Treasury securities will yield 4.5%. If the pure ectations theory is correct, what is the yield today for 2-year Treasury securities? Calculate the yield using a geometric average. Do not round ermediate calculations. Round your answer to two decimal places

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