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Which of the following statements regarding US Treasury futures is FALSE? They use a conversion factor to determine the price of the delivered bond as

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Which of the following statements regarding US Treasury futures is FALSE? They use a conversion factor to determine the price of the delivered bond as a ratio compared to a 6% coupon bond both evaluated at a 6% yield. A bond that is cheapest to deliver bond can "trade special" in the repo markets. They are cash settle. They are often used to hedge portfolio duration

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