XYZ portfolio manager is expecting that the yield spread between Treasury II and Rockwell international (currently at 140 bps) will widen to 200 bps in the next 3 to 6 months due to deterioration of Rockwell International economic fundamentals and a possible downgrade to BBB. The portfolio manager, therefore, is contemplating a spread trade to profit from widening spread. 2A. What position the portfolio manager should take in the above scenario to profit from widening spread to 200 bps? 2B. What happens if spread tightens to 100 bps? 2C. What happens if spread remains 140 bps?