MNI China Daily Summary: Friday, July 5

MNI BRIEF: PBOC Plans To Borrow Hundred Bln Yuan CGB - Press

MNI BRIEF: BOJ Consumption Activity Index Flat M/M In May

MNI: PBOC Net Drains CNY48 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1289 Fri; -0.35% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: EUROZONE MAY RETAIL SALES +0.1% M/M, +0.3% Y/Y

Retail Trade Broadly In-Line With Consensus

Weak manufacturing in France and Germany in May; energy production up

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

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

BONDS
BONDS: MNI Europe Pi (Positioning Indicator): Draghi Boosts Bund Longs
- Structural long positioning in Bunds headlines our latest positioning update.
The roll completion ahead of June 6 (for M9/U9) may distort our readings
slightly, but it is no coincidence that Bund long positioning shot higher on Jun
18, when ECB Pres Draghi hinted at potential future easing. 
- Last week also saw short covering across the EGB space, as global monetary
easing prospects may have spurred bond bears to throw in the towel.
- Schatz, Bobl and Buxl positioning is flat, with Buxl shorts pared back. Schatz
longs pre-Draghi have notably evaporated alongside the rise in Bund longs.
- BTP structural positioning has edged off extreme longs but remains long.
Post-Draghi trading saw three days of longs liquidated (OI and price down). 
- OAT positioning has been flat most of the year, and our latest reading is no
exception (despite structural longs appearing during the roll period.
- Gilt positioning is now flat, compared with slightly long positioning at the
beginning of last week, with some longs reduced overall last week.
- For full analysis see: https://emedia.marketnews.com/MNI-PI-06024019.pdf
MarketsFixed Income Bullets
MarketsFixed Income Bullets

To read the full story

Close

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.