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20. Suppose you want to hedge a $500 million bond portfolio with a duration of 5.1 years using 10-year Treasury note futures with a duration

20. Suppose you want to hedge a $500 million bond portfolio with a duration of 5.1 years using 10-year Treasury note futures with a duration of 6.7 years, a futures price of 102, and 2 months to expiration. The multiplier on Treasury note futures is $100,000. How many contracts do you buy or sell?

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