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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): Gilt Shorts Reverse
MNI Europe Pi (Positioning Indicator): Gilt Shorts Reverse
EXECUTIVE SUMMARY:
- Structural positioning has shifted only slightly since our last biweekly update on Oct 17, with the overall bias toward flat/short positioning.
- The main standout move is in Gilts: after multi-year extremes in shorts were set in late Sep/early Oct, the contract has moved to joint-longest (in this case, flat) in our matrix.
Full PDF Analysis:
- GERMANY: Most of the German curve is showing similar positioning as our last update. Schatz remains short, with Bobl and Bund remaining flat. Buxl has shifted to very short from short. Three of the four contracts saw short cover last week, with Bund (long setting) the exception.
- OAT: Positioning remains short. Longs were set last week.
- GILT: Positioning continues to retrace the extreme shorts seen in the wake of late September's mini-budget, coming in at flat currently. Last week saw short cover.
- BTP: Structural positioning remains the most short in our MNI Pi matrix for yet another week, though last week saw some short covering.
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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