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Quotations from the asx table

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It is November 15th 2019, and Jerry will need to borrow $5,000,000 for 90-days next June. If today's yield on 90-day bank bills is 1.0% p.a. and Jerry believes that 90-day interest rates may fall to 0.8% p.a. by June. What futures position should Jerry take to hedge this exposure? What borrowing rate would Jerry lock-in, if in June, the June futures quotations are 98.8550 (bid) and 98.8650 (ask), and September futures 98.8450 (bid) and 98.8600 (ask), while Jerry is able to issue 90-day bills at 1.70% p.a.?

Use the quotations from the ASX table above, while assuming that all futures trades are conducted using market orders, and document his various actions in the table below.

Reference no: EM133075315

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