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Bund Enters Very Short Territory, Buxl Now Short, Schatz/Bobl Flat (1/2)

BONDS

German bond futures structural positioning as of April 8, per MNI's latest Europe Pi (Positioning Indicator) update out today (PDF here):

  • There is little change since our March 22 update at the shorter end of the German curve.
  • Schatz and Bobl remaining at flat.
  • However, Buxl has moved back to short from flat (it had previously been short pre-Mar/Jun Eurex roll)
  • Bund has shifted to very short from short.
  • Shorts were set across all 4 contracts last week.

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