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MNI Europe Pi (Positioning Indicator): Shorts Returning

BONDS

We've just published our latest MNI Europe Pi positioning analysis:

  • On balance, structural positioning has tilted toward "short" territory since our last update in late May prior to the Eurex quarterly futures roll picking up.
  • German contracts came into the roll basically flat, but we've seen a move toward short structural positioning.
  • Conversely, OAT and BTP were long - the former is now showing structural short positioning.
  • Last week saw mostly short-setting.

Full PDF Analysis:

MNIPi19June2023.pdf



Source: MNI Pi

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