Is the futures price of a fixed rate bond likely to be

Question

Futures on bonds and stocks

(a) Is the futures price of a fixed rate bond likely to be higher, lower or the same as its forward price? Give brief reasoning.

(b) Is the futures price (for a futures contract with maturity T ₀) of a floating rate bond likely to be higher, lower or the same as its forward price? How does your answer change if T = T₀?

(c) Is the futures price of a stock likely to be higher, lower or the same as its forward price?