November 20, 2023 14:09 GMT
MNI Europe Pi (Positioning Indicator): Shorts Dwindle
Our latest Europe Pi positioning indicator has just been published, emailed to clients and available in PDF here:
- The strong upward price action across EGBs and Gilt last week in the wake of soft US and UK inflation/activity data saw broad short covering and long-setting across the space.
- This helped contribute to a further move away from structurally short territory for several bond futures contracts, with longs re-emerging.
- There are only 2 contracts in "short" territory, vs 4 in our Nov 6 update.