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MNI Europe Pi (Positioning Indicator): Broad Short Covering

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MNI's latest Europe Pi has been published and- emailed to subscribers (PDF here).

  • Widespread short covering last week (price increases, falling open interest) helped most European bond futures contract positioning move away from structurally "short" territory.
  • There are no longer any contracts in "very short" positioning (vs two "in our Oct 23 update).
  • A modest standout is Gilts which have dipped into structurally short territory vs flat previously.


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