... 187currency forwards and futures 15–21, 57, 101 –2currency optionscompound options 106 –7 and covered call writing 109 –11definition 101 exchange-traded 107 –9 and forwards 101 –2hedging with 102 –6currency ... 126–7forward rate agreements 23–9FX forwards 15–21, 106 hedging with options compared 77–9, 101 –2, 106 long and short forwards 11–12 and options 69, 84–6, 101 –2, 113–16, 127origins 4pricing 11–14, ... debt security issued and fully backed by agovernment.Treasury bond A longer-term debt security issued and fully backed by a government.Two-way quotation A dealer’s bid (buy) and offer (ask or...