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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): Still Flat-To-Short
MNI Europe Pi (Positioning Indicator): Still Flat-To-Short
EXECUTIVE SUMMARY:
- Following the Dec / Mar contract roll at the turn of the month, early post-roll signals are that overall European bond futures positioning remains flat-to-short.
- The past week has seen mostly short-setting, mostly in Germany, where short positioning is most prominent.
Full PDF Analysis:
- GERMANY: Schatz structural positioning remains the shortest in our matrix. It is joined in short territory by Bund and Buxl. Once again, the standout is Bobl which is flat. The most recent week saw short cover across all the German contracts. However, the bigger picture is that all of these contracts are generally moving away from the more extreme short territory seen in late Oct/early Nov.
- OAT: Positioning is unchanged at flat since our last update, with some short setting seen in the most recent week of trade.
- GILT: Positioning is flat, unchanged since our last update - but it is the contract that is closest to net "long" territory. Longs were reduced in the past week.
- BTP: Positioning is flat, though longs 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.
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