In February 2018, Aaa bonds yielded 3.38%, Baa bonds yielded 4.51%, and comparable Treasuries yielded 2.86%.

1. What was the credit spread on Aaa bonds?

2. What was the credit spread on Bbb bonds?

3. What do you think would be the difference in price (as a percent of face value) between a typical 5% 10 year Baa bond and a similar Treasury bond?