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A portfolio manager has used a Treasury bond futures contract to hedge a mortgage security, which is trading at par, against a decrease in value from a 50 basis point increase in yield. If the yield were to decrease 50 basis points, the most likely result is: A. the net value of the position with the hedge will increase. B. the net value of the position with the hedge will decline. C. the net value of the position with the hedge will not change. |