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If the one-year risk-free rate is lower than the dividend yield and the (annualized) two-year risk-free...

If the one-year risk-free rate is lower than the dividend yield and the (annualized) two-year risk-free rate is higher then the dividend yield, then the price of S&P500 index futures expiring in one year will be lower than the current index value, and the price of S&P500 index futures expiring in two years will be higher than the current index value.

TRUE or FALSE?

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