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German Pi: Schatz Sees Nascent Long Setting While Others Lean Short (1/2)

BONDS

German structural positioning is unchanged since end-June, per our latest MNI Pi update.

  • Schatz remains short with Bobl and Bund "very short", with Buxl remaining flat.
  • Schatz is seeing some nascent long setting with the contract moving away from extreme shorts.
  • The other three contracts saw short cover last week.

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