Free Trial
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.
MNI Europe Pi (Positioning Indicator): Shorts Remain Prevalent
MNI Europe Pi (Positioning Indicator): Shorts Remain Prevalent
EXECUTIVE SUMMARY:
- Structural shorts remain prevalent across European futures contracts, with no contracts in long territory for the first time since early summer.
- Volatile trade last week appeared mixed from a positioning perspective.
Full PDF Analysis:
- GERMANY: Schatz is back at flat after a brief spell as the only German contract in long territory. The rest of the space remains structurally short however: Bobl remains short, while Bund has shifted to merely short from very short, and Buxl moving in the opposite direction at very short vs short previously. Trade last week was mixed, with longs set in Schatz and Buxl, and longs reduced in Bobl and Bund.
- OAT: OAT shorts have dissipated slightly since our last biweekly update, to short vs very short previously. Some long setting was observed last week.
- GILT: Gilts continue to oscillate between longs (seen in Jul-Aug) to shorts (most of Sept), with the latest observation in flat positioning. Longs were reduced last week.
- BTP: BTP structural positioning has moved away from long territory to sit flat. Some shorts were set 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok