MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI BRIEF: Japan Q3 Capex Up Q/Q; GDP Revised Lower

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

MNI: AUSTRALIA Q3 BIZ INDICATORS INVENTORIES -0.9%

MNI: AUSTRALIA OCT BUILDING APPROVALS +4.2% M/M, +6.1% Y/Y

MNI: AUSTRALIA NOV DWELLING APPROVALS +4.2% M/M

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

MNI Europe Pi (Positioning Indicator): Longs Hit The Exits

BONDS

A sharp price move lower across EGBs/Gilts on Monday following news of an apparently effective Pfizer vaccine for COVID led to reductions in longs almost across the board (OATs the lone exception), based on falling OI alongside. There were no structural shorts in any single futures contract coming into this week, by our estimate.

  • GERMANY: Schatz, Bobl, and Buxl have all seen longs reduced over the past week, with shorts set in Bund.
  • Structural positioning is now mixed: Bobl is very long, Bund long, while Schatz and Buxl are flat."
  • OAT: Positioning is now short, having been flat for the preceding few weeks - short setting has been seen in the past week, incl Monday (-150 ticks in price, +1.2% OI).
  • GILT: Structural positioning has gone the opposite way to OATs, moving long from flat, despite longs reduced in the past week.
  • BTP: Positioning remains long, though has come slightly off the boil vs recent weeks, with longs reduced in the past week.
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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.