Consider the Following Four Debt Securities, Which Are Identical in Every

Essay

Consider the following four debt securities, which are identical in every characteristic except as noted:
W: $\quad$ A corporate bond rated AAA
X: $\quad$ A corporate bond rate BBB
Y: $\quad$ A corporate bond rated AAA with a shorter time to maturity than bonds W and X
Z: $\quad$ A corporate bond rated AAA with the same time to maturity as bond Y that trades in a more liquid market than bonds W, X, or Y

List the bonds in the most likely order of the interest rates (yields to maturity) of the bonds from highest to lowest.Explain your work.