11. The volatility of the underlying bond futures rose to an annual rate of 9 . 55 percent. 12. The volatility of the underlying bond futures fell to an annual rate of 7 . 95 percent. 13. The volatility of the underlying bond futures rose to an annual rate of 8 . 51 percent. 14. The volatility of the underlying bond futures fell to an annual rate of 8 . 91 percent. 15. The value of derivatives such as collateralized mortgage obligations is based, or derived, from underlying bonds backed by mortgage payments. 16. The net basis between a futures price and its underlying bonds may provide an indication of which bond is the cheapest. 17. The yields on stable-value funds derive from the performance on the underlying bonds and vary based on what the managers buy. 18. This way, if the issuer goes belly up, the underlying bonds can be sold without the GIC-holders getting mired in a liquidation dispute. 19. So trading in the contract will likely be a lot less than that of the 10-year bond future, which has an underlying bond . 20. He paraphrases an idea of Plato s that says about the same : that all the disciplines of the world share an underlying bond .
