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MNI Europe Pi (Positioning Indicator):........>

BONDS
BONDS: MNI Europe Pi (Positioning Indicator): Brexit Volatility, Schatz Shorts
- Since our last Pi update a month ago (Nov 20 - we skip our biweekly update
over the quarterly roll period as it distorts positioning readings), structural
positioning on EGBs has moved broadly towards net shorts.
- In particular, Schatz futures have gone fairly deeply structurally short
versus a net long position last month.
- Volatility in Brexit risk perceptions is reflected in large swings in Gilt
structural positioning going from large net shorts in mid-November to flat.
- For full PDF version, incl methodology: 
http://marketnews-m.objects.xtenit.com/MNI-PI-18122018.pdf

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