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- 2015-11-28
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Here is how I understood this. "sell TBF when IRs fall" = "Sell TBF when IRs are low" basically what it says short them so when they rise again you are hedged.
"buy t-bond futures when interest rates rise"="buy TBF when IR are high so when they fall you are hedged"
It doesn't say "sell t-bond futures when interest rates ARE fallING and buy t-bond futures when interest rates ARE risING"
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