You are spread trading. In each case state, which bond/note do you buy and which do you sell short. No explanation is necessary:

a. You believe that the market is under-estimating the probability of Greece defaulting on its Treasury bonds relative to Portugal. You also believe that the market will re-adjust its opinion to match yours. You have 10 year Greek Treasuries and 10 year Portuguese Treasury bonds available. Greek bonds are trading at the higher yield of the two bonds.

b. You believe that due to low interest rates, investors have been chasing yield for the last few years. You also believe that investors are going to stop chasing yield abruptly. You have available 5-year BB corporate bonds and 5-year Treasury notes.

c. Assume that the term structure is downward sloping. You believe that the term structure of interest rates will flatten (become less downward sloping) in the near term. You have available 2-year Treasury notes and 10-year Treasury notes.