Today you observe the following:

$1.$ Six$-$month Treasury bills that pay a yield of $2\mathrm{.}00\%$ per $6$ months.

$2.$ Sixteen$-$year Treasury bonds that pay $4\%$ interest$-$coupon per year. The current price of the bonds is $$101$ per $$100$ face value.

$3.$ Futures contracts, with $6$ months to delivery, on the Treasury bonds above. The current futures price is $$102$ per $$100$ face value.

The Treasury bonds above pay $2\%$ interest every six months. They have just paid interest to their owner. Therefore, if you buy them, you would not have to reimburse the seller for any lost interest. The next coupon payment is $6$ months from today. If you buy the bonds today and hold them for $6$ months, you will get $2\%$ interest, in addition to the spot or futures price.

You wish to invest in a riskless strategy for $6$ months.

Construct two RISKLESS investment strategies for $6$ months using the securities above. Which strategy is preferable and why?