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... OAT Short, BTP Flat Into The Roll (2/2)

BONDS

Elsewhere in European futures structural positioning:

  • OAT: OAT has tilted back toward short structural positioning where it spent most of the Jul-Oct period, having been flat in our last update. Last week's trade was evident of some short covering.
  • BTP: BTP structural positioning remains flat, with some short cover in evidence in the most recent week of trade.
  • GILT: Gilt structural positioning is nominally short though we caution against making any conclusions given the distorted signal from the ongoing roll (which is nearly complete).

Source: MNI Europe Pi

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