1. Use the information below to compare and explain the differences in Yield to Maturity (YTM) of the four bonds presented. Secondly, what would you expect for the price relationships of the four bonds presented (i.e. which is least expensive to most expensive) and why? Assume they were issued at the same time and coupons are of similar characteristics.

	Bond A	Bond B	Bond C	Bond D
Issuer	Corporation	Sovereign Government (Republic of Blue)	Corporate	Sovereign Government (Republic of Blue)
YTM	7%	5%	9%	3%
Maturity	5 Years	5 Years	5 Years	5 Years
Coupon Denomination	Domestic	Foreign	Domestic	Domestic
Price	?	?	?	?
Credit Rating	AAA	AA	A	AAA
Benchmark	3%	3%	3%	3%