FUTURES Market slides
Futures dealers are hoping the Government’s $3OO million stock tender result due to be announced on Friday, will not be as expected. If it is, the futures market will meander along as it has for the last month. “I hope it is not as expected so that we will see some volatility,” one dealer said. “Otherwise we will be back to waiting for the CPI announcement,” he added. Volume has been dreadful in futures for the past month and traditionally winds down towards Christmas. Yesterday there were only 370 Government stock contracts traded with the contract falling two points to 8721. The bank bill contract fared little better, with only 87 lots changing hands as the contract eased six points to 8585. The Barclays share index contract continued the dull
pattern, with only 25 contracts traded as the September contract eased 17 points to 1970 and the December contract fell 12 points to 1995. On the Sydney Futures Exchange, the September share price index futures closed weaker at 1537 after reaching a high of 1548 from Friday’s 1540 close. About 670 lots were traded. SUS CONTRACTS Mth Open H/L Last Vol Oct. 16340 394/192 394 20 Contracts traded: 20. Open positions at September 23: October 573, total 573 (down 65). GOVERNMENT STOCK Mth Open H/L Last Vol Dec. 8723 724/721 721 370 Contracts traded: 370. Open positions at September 23: December 3421, total 3421 (up 345). 90-DAY BANK BILLS Mth Open .H/L Last Vol Oct. 8595 595/585 8585 59 Dec. 8625 625/620 8620 28 Contracts traded: 87. Open positions at September 23: October 663, November 32, December 715, March 123, June 37, September 7, total 1577 (up 131). SYDNEY ALL-ORDS (half-points omitted) Prev. Mth close H/L Last Vol Sep. 1540 548/532 537 679 Dec. 1541 550/533 539 73 Contracts traded: 752. Open positions at September 23: 5918 (up 10). BARCLAYS SHARE INDEX Mth Open H/L Last Vol Sep. 1980 980/967 970 9 Dec. 1995 996/986 990 16 Contracts traded: 25. Open positions at September 23: September 91, December 56, total 147 (up 3).
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Press, 27 September 1988, Page 29
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346FUTURES Market slides Press, 27 September 1988, Page 29
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