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The yield-to-maturity of a bond will change over time as investors' expectations for inflation change. Specifically, if people think inflation will go up (down), the

The yield-to-maturity of a bond will change over time as investors' expectations for inflation change. Specifically, if people think inflation will go up (down), the yield-to-maturity on existing bonds should go up (down) as well.

True or False?

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