At the End of July, the Average Yields on 10

Multiple Choice

At the end of July, the average yields on 10 top-rated corporate bonds and 10 intermediate-grade bonds were 7.65% and 8.42%, respectively. At the end of August, the average yields on 10 top-rated corporate bonds and 10 intermediate-grade bonds were 6% and 6.71%, respectively. The confidence index ________ during August, and bond technical analysts are likely to be ________.

A) increased; bullish
B) increased; bearish
C) decreased; bullish
D) decreased; bearish