Please answer true or false to the following questions

a. ____ When the perception in the economy is that credit risk is getting worse/higher, the spread between YTMs on corporate and Treasury bonds will likely narrow.

b. ______ Off-the-run bonds tend to be less liquid, and therefore have lower yields to maturity.

c. ____ If I believe that interest rates are going down in the future, I would purchase bonds with a very short duration to profit from this idea.

d. ____ If the yield curve is upward sloping, the 6-month forward rate will be greater than the 6-month spot rate and lower than 1-year spot rate. (Assume all rates are stated as bond equivalent yields.)