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In 2017, the average daily turnover in the Australian bond futures markets was 207000 contracts for the three-year and 162000 for the 10-year. This indicates

In 2017, the average daily turnover in the Australian bond futures markets was 207000 contracts for the three-year and 162000 for the 10-year. This indicates an undesirably high level of speculation in the bond futures markets in Australia. Discuss the validity of this statement.

Book Name: Viney, C & Phillips, PJ (2019), Financial institutions, instruments and markets, 9th ed, Financial institutions, instruments, and markets.

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