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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): BTP Shorts Extend
MNI Europe Pi (Positioning Indicator): BTP Shorts Extend
EXECUTIVE SUMMARY:
- BTP structural positioning continues to move increasingly short, while Bund longs continue to build.
- Last week saw shorts set across every contract tracked by MNI, as open interest rose and prices fell.
Full PDF Analysis:
- GERMANY: The standout move at the long end of the German curve since our last biweekly update was Buxl's shift back toward flat structural positioning, versus long for most of July/Aug. Bund maintains its long status. On the shorter end of the curve, Schatz positioning has edged back to flat vs short two weeks ago (and very short prior to that); Bobl remains in short territory.
- OAT: Positioning remains flat for the third consecutive update, though is on the cusp of long territory.
- GILT: Positioning has shifted from structurally short to flat since our last update.
- BTP: Positioning has gone from short in our last update, to very short at present.
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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