Couple questions for bond futures

Hey guys, 

I was reading this report on JPY 3m bill futures and there are a few terms I came across for the first time. Couldn't find much explanation for them googling, so I'm seeking help from the almighty WSO monkeys. Would really appreciate if anyone who's familiar with bond futures explain them to me like I'm five or point me to anywhere I can read up on those. 

  1. For a future rollover, what does calendar mean and what is the price of a calendar? "Calendar is trading at X."

  2. When positions rollover, why would a short cover or a long roll dominate the other, assuming position level stays constant? Wouldn't the volume on both sides be equal?

  3. What are the compound CTD curve and the "futures OIS ASW"?

  4. The difference between TB and FB for short term JPY gov bills. 


Thanks a ton in advance. Posting anonymously as I've sent the same exact questions to my colleagues. 

 
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