Suppose that on October $1,2023$ the bond traders expect short term rates to rise to $3\%($anuual$)$ and stay at that level for the next $6$ months, and then rise to $3\mathrm{.}5\%$ per annum$).$ Then, on Octob

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premium of $0)?$

b$.$ The $1$ year bond rates will rise from $3\%$ to $3\mathrm{.}25\%$

c$.$ The $1$ year bond rates will rise from $3\mathrm{.}25\%$ to $3\mathrm{.}5\%$

d$.$ The $1$ year bond rates will rise from $3\mathrm{.}5\%$ to $3\mathrm{.}75\%$

$19.$ Which of the foll rates will stay at $3\mathrm{.}5\%$