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? Interest rates on 3 - year Treasury securities are currently 6 . 6 % , while 6 - year Treasury securities yield 7 .

? Interest rates on 3-year Treasury securities are currently 6.6%, while 6-year Treasury securities yield 7.45%. If the pure expectations theory is correct, what does the market believe that 3-year securities will be yielding 3 years from now? Calculate the yield using a geometric average.
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