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The December CBOT Treasury bond futures contract is quoted at 92-19. If annual interest rates go up by 1.50 percentage points, what is the gain
The December CBOT Treasury bond futures contract is quoted at 92-19. If annual interest rates go up by 1.50 percentage points, what is the gain or loss on the futures contract? (Assume a $1,000 par value, and round to the nearest whole dollar.)
I calculated as follow:
=PV(1.5,1,150,-1000)
=340 920-340= $580 gain
Did I calculated correctly? I am not sure what 92-19 means?
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