Bond Pricing / Trading Question

As bonds are directly related to currency, I think this is a relevant question.

I’m looking at three bonds for the sake of this question:
ZB - 30 Yr
ZN - 10 Yr
ZF - 5 Yr

Unlike currencies on the spot market which trade in pips, these instruments trade as futures contracts, and therefore trade in ticks. Their tick values are as follows:

ZB 1 tick = 1/32 value of $31.25
ZN 1 tick = 1/2 of 1/32 value of $15.625
ZF 1 tick = 1/4 of 1/32 value of $7.8125

At the end of the day, 1/32 of a movement for all three would be equal to 31.25, however as the bond type steps down in years to maturity the tick values decrease. I was looking at this from the perspective of ATR, thinking that if all things are equal, the ZF must move 4* as much every day as the ZB, but I guess my question is, does anyone understand why they have differing price structures? I’ve looked at a couple of internet sources that explain Investments and Bar Charts (trying to avoid a BP warning here) but I still don’t understand the reasoning why the pricing works like this. I’d appreciate any help…

I’m not sure if I’m going to be able to answer your question. I’ve never watched treasuries futures pricing very closely. I think the answer is more of a futures pricing thing - duh. One thing to know is that longer term treasuries are more sensitive to interest rate changes than the shorter term - this goes for commercial paper as well. So perhaps the ticks are incrementally smaller to make up for the lack of movement in the near-term paper. This would be my general guess.