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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.
MNI Europe Pi (Positioning Indicator): Flat-To-Short
MNI Europe Pi (Positioning Indicator): Flat-To-Short
EXECUTIVE SUMMARY:
- Structural positioning in European bond futures contracts has stayed flat/short since our last biweekly update, with some notable volatility in Gilt positioning in the interim.
- Last week saw a mixture of trade, with both shorts and longs set and reduced.
Full PDF Analysis:
- GERMANY: There has been no change in the structural positioning of any German futures contract since our last update, though trade last week was mixed. Schatz (short cover last week) and Bobl (longs set last week) positioning remains flat, with Bund (shorts set last week) and Buxl (longs reduced last week) positioning still short.
- OAT: Positioning has shifted back into flat territory vs short in our last update. Longs were reduced last week.
- GILT: Positioning jumped briefly into flat territory early last week amid market dislocations, but returned structurally short as markets calmed. Last week saw longs reduced.
- BTP: Structural positioning is the most short in our MNI Pi matrix. Further shorts were set last week.
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.
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