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MNI Pi Positioning: Plenty Of Long Setting Thursday Amid Huge Rally

BONDS

Thursday's Eurex open interest data is out - most European bond futures contracts saw higher OI amid yesterday's strong price rally, suggesting mostly fresh longs being set.

  • The exceptions were Schatz and Bund which saw OI drop, potentially suggesting some short cover.
  • Overall structural positioning is short (Gilt the exception). Our full biweekly Pi positioning update will be published Monday.

Source: MNI, Eurex, BBG

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Thursday's Eurex open interest data is out - most European bond futures contracts saw higher OI amid yesterday's strong price rally, suggesting mostly fresh longs being set.

  • The exceptions were Schatz and Bund which saw OI drop, potentially suggesting some short cover.
  • Overall structural positioning is short (Gilt the exception). Our full biweekly Pi positioning update will be published Monday.

Source: MNI, Eurex, BBG