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Negative Yield "Top" For Bond Futures?

Posted: Fri Aug 10, 2012 2:26 pm
by cordura21

I'm trading Bond Futures using trend following and I'm trying to figure if there is a futures contract price that implies a negative yield for the underlying bond.

This is obviously a "soft" top since bonds can (and recently we've seen it in German Bonds) trade at negative yields but I still figure it adversely affects the probability of further upside.

Does anybody know if this price exists or if the characteristics of the underlying bond need to be known?