Suppose the yield curve is upward sloping but that expected future short-term ra

Suppose the yield curve is upward sloping but that expected future short-term rates are constant. This may be because A) compounding results in non-linear eects which increase long-term yields B) bondholders prefer to hold short-term bonds for liquidity reasons C) bondholders prefer to hold long-term bonds for liquidity reasons D) markets are irrational E) none of the above