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MNI Europe Pi: Long Reduction / Short Setting Continues

Structural positioning across most European futures contracts remains relatively flat.

EXECUTIVE SUMMARY:

  • Structural positioning across most European futures contracts remains relatively flat, with most looking similar to our last full Europe Pi update on Jan 28. Again, this contrasts with longer-leaning positioning at the very end of 2024.
  • BTP and OAT stand out for being long and short, respectively, with Buxl (short) the lone German contract not in flat territory.
  • We continue to see longs reduced and shorts set across contracts, including over the most recent week of trade.
     

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EXECUTIVE SUMMARY:

  • Structural positioning across most European futures contracts remains relatively flat, with most looking similar to our last full Europe Pi update on Jan 28. Again, this contrasts with longer-leaning positioning at the very end of 2024.
  • BTP and OAT stand out for being long and short, respectively, with Buxl (short) the lone German contract not in flat territory.
  • We continue to see longs reduced and shorts set across contracts, including over the most recent week of trade.
     

Full PDF Analysis:

Keep reading...Show less