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The June Treasury bond futures contract has a quoted price of 102'12. Are current market interest rates higher or lower than the standardized rate on

"The June Treasury bond futures contract has a quoted price of 102'12. Are current market interest rates higher or lower than the standardized rate on a futures contract?

higher, because the contract is selling at a discount

higher, because the contract is selling at a premium

lower, because the contract is selling at a premium

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None of the above answers is correct

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