Bank gives ‘run-around’
The National Bank was again the major player in bank bill futures yesterday, but appeared to be more concerned with getting the market going rather than driving it in a particular direction, according to a dealer. The manager director of Egden Wignail and
Company Futures, Dr Brent Layton, said yesterday that the bank “gave
everyone a good runaround, as they have for some days.” While the bank was a net buyer yesterday, there was a strong element of market-making in its pattern of trading. Bank bill futures were very active yesterday, he said.
In the March contract, 565 lots with a total face value of $282.5 million
were traded. That was a reasonable volume and “a lot of money,” he said.
The contract reached its low of 8640 soon after opening at 8643, and reached a high of 8655 before closing at 8650.
Barclays share index futures closed higher yesterday after a 50 point drop on Monday.
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Press, 1 March 1989, Page 42
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160Bank gives ‘run-around’ Press, 1 March 1989, Page 42
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