FUTURES PCPs busy
The PCP (interest-rate) futures-contract index tended to fall slightly in a busy day yesterday. Mr Geoff McDonnell, futures manager of Mair Astley, Ltd, said physical-market interest rates on 90-day bills were down 0.03 percentage points. “But I still think that February and March will see higher rates for 90-day money." U.S. dollar contracts were steady and quiet, reflecting the steadiness of the Kiwi dollar on the foreign-exchange market. Wool futures fell three to four points in fairly busy trading. The wool type on which the contract is based, 35F2D, was at 501 at auction yesterday. Mr McDonnell said the tone of the physical market was “pretty dear” in international currency terms, and wool prices might ease in the short term. The International Commodities Clearing House, Ltd, said in Auckland yesterday that 7144 contracts valued at $926,801,485.88 were traded on the Futures. Exchange last month. The breakdown by commodity was: Prime commercial paper — 4126 contracts, valued at
$786,672,020.88 (a monthly record). U.S. dollar — 1209 contracts, valued at $116,322,240.00. Wool — 1809 contracts, valued at $23,807,225.00. Details of yesterday’s trading on the Futures Exchange: SUS CONTRACTS Mth Open H/L Last Vol Jan. 1.9319 9350/9250 9300 20 Contracts traded: 20 Open position as at January 7: Jan. 385, Feb. 10,'Mar. 1, Jun. 1, Sep. 1, total 398 (up 113). WOOL FUTURES
May 538 538/535 535 6 Contracts traded: 69. Open position as at January 7: Jan. 53, Mar. 225, May 390, Aug. 209, Oct. 207, Dec. 213, Jan. 183, Mar. 285, May 183, total 1948 (down 8). COMMERCIAL BILLS Mth Open H/L Last Vol Jan. 7935 945/935 939 41 Feb. 7960 960/930 935 17 Mar. 7850 855/835 845 81 Contracts traded: 139. Open positions as at January 7: Jan. 418, Feb. 388, Mar. 835, Jun. 82, Sep. 70, Dec. 17, total 1810 (up 32).
Mth Open H/L Last Vol Jan. 505 505/505 505 5 Meh 504 504/504 504 7 May 510 511/510 511 13 Aug. 524 524/520 520 16 Oct. 524 524/521 521 5 Dec. 522 525/520 521 12 Jan. 524 525/522 522 5
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Press, 9 January 1986, Page 18
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343FUTURES PCPs busy Press, 9 January 1986, Page 18
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