Today is 1/5. You are a pension fund manager and will have to make disbursements on 2/3. You plan on selling bonds worth $2.6m on 1/30 to fund this disbursement. You are concerned that interest rates may rise over this period and would like to hedge your portfolio by using futures contracts. The following information is available to you. Modified Duration of your portfolio = 12.4 years. For futures contracts Expiration Futures Price MD March 98,425 6.4 June 98,825 7.1 September 98,125 6.5 December 98,250 7.6 Which is the appropriate maturity of the contract? December September June March Today is 1/5. You are a pension fund manager and will have to make disbursements on 2/3. You plan on selling bonds worth $2.6m on 1/30 to fund this disbursement. You are concerned that interest rates may rise over this period and would like to hedge your portfolio by using futures contracts. The following information is available to you. Modified Duration of your portfolio = 12.4 years. For futures contracts Expiration Futures Price MD March 98,425 6.4 June 98,825 7.1 September 98,125 6.5 December 98,250 7.6 Which is the appropriate maturity of the contract? December September June March