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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CFTC
Yesterday's CFTC release (delayed from the usual Friday release due to Thanksgiving holidays) showed a further build in the market's net long USD position, while 10y Treasury futures positioning slips to a new low.
Fixed Income:
- Markets trimmed positioning in the very short-end, with the 2yr net short increasing by around 2% of OI, but overall position still minor relative to the extremes seen in the past 12 months.
- While positioning in 10y is relatively little changed, it still marks the largest net short across the past 12 months, explaining the sizeable negative Z-score for that contract.
Currencies
- Given recent strength in spot, the increasing net short position in CHF is notable, with markets pushing the CHF net short to just over 20% of open interest.
- The GBP position continues to deteriorate, with markets increasing the net short by around 3,000 contracts to a new 12m low of 16.2% of open interest.
- AUD, MXN were the only currencies to see their positioning improve across the week.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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