SFE 3-Year Bonds Set New Record

Trading activity in the Sydney Futures Exchange's (SFE) most heavily traded contract, 3-Year Bonds, rallied to new heights on June 10. Spurred by June to September rollover activity, the announcement of domestic unemployment figures and an overnight rise in US Long Bond yields, the volume of 3-Year Bond contracts traded surged to 171,572, representing a face value of A$17.1 billion. The previous highest mark of 143,479 contracts traded was set on 12 June 1998. Year to date trading activity in the 3-Year Bonds is up 12.1% on the corresponding period last year, while the total number of contracts traded at the SFE in the first five months of 1999 is 12% more than for the same time in 1998.