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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): Short Cover Continues
EXECUTIVE SUMMARY:
- Moves in structural positioning have been mixed since our last update two weeks ago.
- One constant though is that we again have seen short covering across almost all European futures contracts as the price rally from the late October lows continues, and OI falls.
FULL PDF ANALYSIS:
- GERMANY: Futures positioning remains largely flat across most contracts - Schatz, Bund, and Buxl are in that category. Bobl stands out as the only current structural long in our Europe Pi matrix. Each contract saw short covering last week with the exception of Schatz, which saw longs set.
- OAT: Structural positioning has remained very short since our last update, though again, we saw short covering in the most recent week.
- GILT: Structural positioning in Gilts has been flat for the past 3 weeks, but continues to move away from net short territory, with last week seeing short cover.
- BTP: Structural positioning remains very short, basically unchanged from 2 weeks ago. Short cover was seen last week.
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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