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MNI Europe Pi (Positioning Indicator): Gilts Long Into Roll


The past two weeks - since COVID vaccine progress began coming to the forefront - has seen some subtle positioning changes in European futures, according to MNI Pi.

  • A decline in open interest across contracts since late October has accelerated (OAT and Buxl excepted), while BTP structural positioning has gone further in the long direction.
  • Gilt positioning remained long as the Dec20/Mar20 contract roll got underway (1st notice = Nov 27).
  • For full analysis CLICK HERE

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