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Citi Have Mixed Views On Futures Rolls

BUNDS

Citi write “for the upcoming U3/Z3 rolls, we are slightly bullish on UB, neutral on RX, and bearish on OE and DU.”

  • “On positioning, we note that there has been a build-up of shorts in UB and RX over recent weeks, which is a bullish factor for the roll.”
  • “In contrast, we think positioning has turned neutral in OE and DU. Roll completion is highest for UB at 5.1%, while it is relatively low for the others (1.7% for RX, 0.8% for OE and 0.5% for DU).”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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