Question: Consider two bonds that have the same coupon, time to maturity, and price. One is a B - rated corporate bond. The other is a

Consider two bonds that have the same coupon, time to maturity, and price. One is a B-rated
corporate bond. The other is a CO bond. An analysis based on historical data shows that the
expected losses on the two bonds in each year of their life is the same. Which bond would you
advise a portfolio manager to buy and why?
Consider two bonds that have the same coupon, time to maturity,

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