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.The expectations theory a has difficulty explaining why yields on bonds of different maturities move together. b has difficulty explaining why U.S. Treasury securities have
.The expectations theory
a has difficulty explaining why yields on bonds of different maturities move together.
b has difficulty explaining why U.S. Treasury securities have lower yields than corporate bonds.
c accounts well for the fact that yield curves usually slope upward.
d has difficulty explaining why yield curves usually slope upward.
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