Question: On September 28, 2020 there are two market-based treasury notes as follows: Note #1: coupon = 0.0225, buy price = 101.078125, sell price = 101.0625

On September 28, 2020 there are two market-based treasury notes as follows:

Note #1: coupon = 0.0225, buy price = 101.078125, sell price = 101.0625

Note #2: coupon = 0.0125, buy price = 100.578125, sell price = 100.5625

Is there an arbitrage opportunity in the two notes maturing on March 31, 2021? Why or why not?

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