You hedged your bank's exposure to declining interest rates by buying one June Treasury bond futures contract at the opening price on April 10, as presented in Exhibit 8-2 (see picture below). According to CME Group, the hedger the initial margin at the time was $1,800 per contract while the speculator initial

Comfort Open High HI 10 Low Cha interest Interest Rate Futures Treasury Bonds ((IT) -$100,000 ph 37ach of 100% 119075 119-245 118-170 119010 -12.5 885,927 117-220 118165 117-155 117-290 -12.5 1,214 Treasury Notes (CD) -$100,000; ph 32nds of 100% line 118045 118-140 117-105 117-175 -20.5 2.073,278 115295 116-095 115-300 116-040 -19.0 1,370 5 Yr. Treasury Notes (CD-5100,000; pis 32nds of 100% 113-257 114-017 113-132 113-162 -11.0 1,808,565 2 Yr. Treasury Notes (()-5700,000; pis 32nes of 100% 107-060 107-107 107-005 107-022 -5.0 1,094,911 30 Day Federal Funds ((AT) $5,000,000; 100 - daily my. April 97.795 97.800 97 790 97_795 67.414 98 090 98.120 98.100 98.105 123,175 1 Month Libor ((ME) 53,000,000; pts of 100% April 97 2900 97.2900 97 2675 97.2775 May 97 5700 97.5200 97.4875 97.4875 -0175 13.214 Eurodollar (()-$1,000,000; ph # 100% 12.355 April 97 2600 97 2975 97 2750 97.2800 #7.5400 97.5750 131,360 97.3700 97.1750 #7.4900 97.5000 -0450 1.572.757 97 4550 97.7250 97 6600 97.4700 - 0700 1,384.393 97 5650 97.5800 -0950 1,397,375