November 14, 2022 17:27 GMT
MNI Europe Pi (Positioning Indicator): German Shorts Stand Out
BONDS
Our latest MNI Europe Pi update has been published (full table and contract-by-contract detail available here):
- The rally in bond futures late last week following lower-than-expected US CPI sparked a round of short covering and long-setting across the European space.
- However, structural positioning remains skewed to the short side (4 of 6 contracts in our matrix, with the other 2 being "flat"), with Germany now more short than Italy.
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