Question: A one year Treasury bill offers a 6% yield to maturity. The market's concensus forecast is that one year T-bills will offer 6.7% next year.

A one year Treasury bill offers a 6% yield to maturity. The market's concensus forecast is that one year T-bills will offer 6.7% next year. What is the current yield on a 2 year T-bill if the expectations hypothesis holds? Enter your answer as a percentage. Do not include the percentage sign in your answer.

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