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Suppose the Federal Reserve auctions $100 million of 10-year notes. The competitive bids are A: $40 million at 4.6%; B: $20 million at 4.7%; C:

Suppose the Federal Reserve auctions $100 million of 10-year notes. The competitive bids are A: $40 million at 4.6%; B: $20 million at 4.7%; C: $40 million at 4.8%, where the yields above are quoted o...

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