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The possibility that a negative event (such as a loss) will happen.

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How do I derive a blend of a 3Y future and 10Y future risk?

In bloomberg, every bond and its future counterparts has a "Risk" rating. There are only 2 futures available, a 3Y and a 10Y. … Bond A - maturity 08/01/23 - has a risk rating of "4.278" Future 3Y - Risk Rating of "2.42" Future 10Y - Risk Rating of "10.66" How do I get to a maturity-matched blend of the risk rating for the futures …
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