In August 2023, the observed yields on 3-month and 6-month Treasury bills were as follows: 3-month rate: 4.88 6-month rate: 4.86 Three months later, in a period of economic turbulence, these rates were respectively as follows: 3-month rate: 8.16 6-month rate: 7.95%. What interest rate forecast could be deduced in August 2023 for November 2023? What was the forecast error? Why do you think financial market participants were wrong? How did the financial markets adjust their forecasts in November 2023 following the forecast error they made in August 2023?