Question: a. How should the parity condition (Equation) for stocks be modified for futures contracts on Treasury bonds? What should play the role of the dividend

a. How should the parity condition (Equation) for stocks be modified for futures contracts on Treasury bonds? What should play the role of the dividend yield in that equation?

F0 = S0 (1+ rf - d) T

b. In an environment with an upward-sloping yield curve, should T-bond futures prices on more-distant contracts be higher or lower than those on near-term contracts?

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