There is usually a single Treasury bond issue that is cheapest to deliver.

Name: There is usually a single Treasury bond issue that is cheapest to deliver.
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In futures contracts that involve Treasury bonds, there is typically one issue that is considered the "cheapest to deliver" based on its price, yield, and the terms of the futures contract. This bond is the most economical option for the seller to deliver to fulfill their obligation under the contract.

There Is Usually a Single Treasury Bond Issue That Is