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| Suppose that instead of a forward contract on the Treasury bond, a similar futures contract was being considered. Which one of the following alternatives correctly gives the preference that an investor would have between a forward and a futures contract on the Treasury bond? A. The futures contract will be preferred to the forward contract. B. It is impossible to say for certain because it depends on the correlation between the underlying asset and interest rates. C. The forward contract will be preferred to the futures contract. |