Suppose you purchase a Treasury bond futures contract at a price of 92 percent of the face value, $100,000.
a. What is your obligation when you purchase this futures contract? You are obligated to purchase a bond worth $ at contract maturity.
b. Assume that the Treasury bond futures price falls to 91.4 percent. What is your loss or gain? (Input the amount as a positive value.)
c. Assume that the Treasury bond futures price rises to 92.9. What is your loss or gain? (Input the amount as a positive value.)