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

BONDS
BONDS: MNI Europe Pi (Positioning Indicator): Short Into The Roll
- As we head into the quarterly roll period (first notice / last trade for Dec19
Eurex contracts is Dec 6), we continue to see shorts across the EGB futures
space, highlighted by 'very short' Bunds. This will be our last update until at
least a few days after the rolls have concluded, given the degree to which rolls
distort our Positioning readings (note Gilt rolls conclude this week).
- For full analysis see email sent to FI Analysis subscribers, or contact us.

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