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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.
Most European bond futures contracts closed the first month of 2021 in the structurally "flat" category, with no shorts. The exceptions are in Germany, with longs in Bobl and Buxl. We predominantly saw longs set last week, with some short covering as well.
FOR FULL ANALYSIS CLICK HERE(or use following link):
- GERMANY: Bobl and Buxl structural positioning is currently long, with longs set last week. Note that both contracts have shifted from flat in our mid-Jan update. Schatz and Bund positioning is flat. Schatz has shifted back from "long" in most of Dec and early Jan, though we saw fresh longs set last week. Bund positioning is relatively unchanged from early Jan; some short covering was seen last week.
- OAT: Structural positioning has moved from short - where it has spent more than 3 months - to flat. Longs were set last week.
- GILT: Positioning has been dialled back to flat, vs longs seen for the previous few months, though we saw longs added last week.
- BTP: Positioning continues to move away from the "very long" category seen in late Nov/early Dec, currently flat. Some short covering seen 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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