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What does the 98-2 15 futures quotation mean?
CBOT medium and long-term treasury bonds futures adopt the price quotation method. 5. The face value of 10 and 30-year treasury bond futures contracts is 10,000 USD, the lowest fluctuation price of 30-year treasury bond futures is 1/32, and the lowest fluctuation price of 5-year and10-year treasury bonds is12, CBOT. Among them, there may be three digits after "-"because the minimum changing price of 5-year and 10-year is 1/2 of132.

According to the above explanation, 98-2 15 actually represents the price of 98+21.5/32 = 98.1875.