A price of a futures contract for U.S. Treasury bonds listed as "111-15" is measured in:
A) 32nds.
B) 12ths.
C) 4ths.
D) dollars; it stands for $111.15 but a dash is used instead of a period.

Question

Quizplus · Accepted Answer

The price of a futures contract for U.S. Treasury bonds listed as "111-15" is measured in 32nds, which means the price is $111 and 15/32 of a dollar. This is a standard convention in the bond market.

A Price of a Futures Contract for U