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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.
A sharp price move lower across EGBs/Gilts on Monday following news of an apparently effective Pfizer vaccine for COVID led to reductions in longs almost across the board (OATs the lone exception), based on falling OI alongside. There were no structural shorts in any single futures contract coming into this week, by our estimate.
FOR FULL ANALYSIS PLEASE CLICK HERE (or use following link):
- GERMANY: Schatz, Bobl, and Buxl have all seen longs reduced over the past week, with shorts set in Bund. Structural positioning is now mixed: Bobl is very long, Bund long, while Schatz and Buxl are flat.
- OAT: Positioning is now short, having been flat for the preceding few weeks - short setting has been seen in the past week, incl Monday (-150 ticks in price, +1.2% OI).
- GILT: Structural positioning has gone the opposite way to OATs, moving long from flat, despite longs reduced in the past week.
- BTP: Positioning remains long, though has come slightly off the boil vs recent weeks, with longs reduced in the past 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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