Answer Happy

Which ONE of the following statements is NOT true?
a.
If a stock market displays a strong form of efficiency, share
prices reflect all information, whether publicly available or
not.
b.
The bond markets deal in short-term debt issued by borrowers
including corporations and governments.
c.
The secondary markets in financial securities provide investors
with liquidity.
d.
Under the weak form hypothesis of market efficiency, share
prices reflect all available information about past changes in the
share price.