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3. (various points] Term Structures of the Past: Mid 20003 Please use the following yield to maturity term structures of U.S. treasuries of diering maturity dates in order to answer the following questions. July 2005: a 3-month: 3.29% a 1-year: 3.64% a 5-year: 3.98% a 10 year: 4.18% July 2007: a 3-month: 5.08% a 1-year: 4.92% o 5-year: 4.48% a 10-year: 4.56% (a) {5 points} In which year (2005 or 2007) would you be more likely to predict a decrease in interest rates for the near future? Please explain your answer in a couple sentences. [b] (5 points} In which year (2005 or 2007) would you be more likely to predict a recession in the near future? Please explain your answer in a couple of sentences