An increase in the high-yield spread often occurs during what economic state of the economy? _________

If the default risk of corporate bonds decreases, the yield or interest rate on Treasury bonds ________

If the fed substantially raises its short-term interest rate to reduce inflation, the shape of the yield curve is likely to be ________

If the current and expected future one-period interest rates are 4%, 5%, 6%, 5% and 5%, and the liquidity premium is 0.5%, the five-period interest rate is ____

If a 6% tax-free interest rate is the same as a 9% taxable interest rate, the bond holder's tax rate is ____