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JGBS AUCTION

Japanese MOF sells Y2.8674tn 1-Year Bills:

EQUITIES

Markets Lower

OIL

Crude Futures Extend Losses

JGBS AUCTION

PREVIEW: 5-Year Supply Due

CHINA RATES

Futures Hit Contract High

CFTC

Speculators built NZD, AUD net positions most materially in last week's CFTC update, with the AUD position seeing a net swing of 6.4% of open interest to switch to net long. The NZD net long position at 32.9% of open interest is a new 52-week high (Z-score = 1.58).

Similarly for JPY, the net add of 330 contracts puts the JPY net long at it's largest for a year, despite relatively contained price action in spot markets.

This leaves just MXN as the sole currency seeing a net short vs. USD among the currencies surveyed.

Full update here: