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If the spread of high yield bonds (as compared to U.S. Treasury bonds) goes up dramatically, this means investors in high yield bonds: a. have

If the spread of high yield bonds (as compared to U.S. Treasury bonds) goes up dramatically, this means investors in high yield bonds: a. have more expected risk b. have become more optimistic about the economy c. have lower expected returns d. perceive higher liquidity in the bond market

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