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MNI Europe Pi (Positioning Indicator): Pre-Roll Short Cover

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We've just published our latest MNI Europe Pi positioning indicator analysis (PDF HERE):

  • With the quarterly rolls about to get underway for Eurex contracts (Sep 7th 1st notice date), structural positioning is flat for the most part, with short cover prevalent last week.
  • Shifts in positioning have been sizeable in the past few weeks, with some longs emerging where shorts existed not long ago, including in our last biweekly update on Aug 15.

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