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EURIBOR: Net Short Setting Dominated On Wednesday

EURIBOR
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OI data suggests net short setting dominated in Euribor futures yesterday, with net long cover seen in only a handful of contracts. EUR STIRs were dragged lower by core EGBs amid heavy sovereign supply, before the global markets reacted hawkishly to a much firmer than expected US CPI report.

  • There was a +57k OI swing in the whites, most notably in the U5 (+23k) and Z5 (+19k) contracts.
  • Z6 also saw +10k of indicative net shorts added, the largest one-day swing since January 15. 

 

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OI data suggests net short setting dominated in Euribor futures yesterday, with net long cover seen in only a handful of contracts. EUR STIRs were dragged lower by core EGBs amid heavy sovereign supply, before the global markets reacted hawkishly to a much firmer than expected US CPI report.

  • There was a +57k OI swing in the whites, most notably in the U5 (+23k) and Z5 (+19k) contracts.
  • Z6 also saw +10k of indicative net shorts added, the largest one-day swing since January 15. 

 

Keep reading...Show less