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10. We defined the basis at time t as Bt = St-FT. If the market is in contango when you initiate your position at time

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10. We defined the basis at time t as Bt = St-FT. If the market is in contango when you initiate your position at time t, what is the expected change in the basis from t to maturity T? a. No change. b. An increase. c. A decrease. d. First an increase and then a decrease. e. All possibilities are equally likely

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