MNI: PBOC Net Injects CNY25.7 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1897 Thurs; -2.25% Y/Y

MNI: PBOC Net Drains CNY195.3 Bln via OMO Wednesday

MNI CBRT WATCH: 1W-Repo Rate Lowered 250Bps to 47.5%

MNI BRIEF: CBRT Lowers 1W Repo Rate From 50% To 47.5%

MNI: PBOC Sets Yuan Parity Lower At 7.1868 Weds; -2.18% Y/Y

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

MNI: US DEC PHILADELPHIA FED NONMFG INDEX -6

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI Europe Pi (Positioning Indicator): Longs Fading

As we highlighted in our mid-October MNI Europe Pi update, longs are now fading in European bond futures positioning.
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyGlobalStoryRegionMarkets

EXECUTIVE SUMMARY:

  • As we highlighted in our mid-October MNI Europe Pi update, which was titled "Longs Look Extended" - longs are now fading in European bond futures structural positioning.
  • The move has been most noticeable in Germany since mid-October, though it's also starting to look the case for BTP and Gilt which remain in long territory nonetheless.    
  • Post-US election trade translated into falling Open Interest on the week across non-German contracts.
  • Accordingly, trade was mixed last week, with mostly long-setting in Germany, but short cover/long reduction across OAT/BTP/Gilt.
        

Full PDF Analysis:
MNI-PI-Nov112024.pdf

Keep reading...Show less
201 words

To read the full story

Close

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.

EXECUTIVE SUMMARY:

  • As we highlighted in our mid-October MNI Europe Pi update, which was titled "Longs Look Extended" - longs are now fading in European bond futures structural positioning.
  • The move has been most noticeable in Germany since mid-October, though it's also starting to look the case for BTP and Gilt which remain in long territory nonetheless.    
  • Post-US election trade translated into falling Open Interest on the week across non-German contracts.
  • Accordingly, trade was mixed last week, with mostly long-setting in Germany, but short cover/long reduction across OAT/BTP/Gilt.
        

Full PDF Analysis:
MNI-PI-Nov112024.pdf

Keep reading...Show less