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OI Indicates Limited SONIA Futures Positioning Swings On Monday

STIR

The combination of price action and OI data points to relatively limited net position swings in SONIA futures on Monday.

  • The whites and reds seemed to see all/almost all of the potential positioning swings across the contracts, resulting in no real overarching view in net pack positioning matters.
  • The greens seemed to see a slight bias towards net long cover, although that was ultimately driven by one contract (SFIZ5).
  • Blue net pack OI was essentially flat, as limited rounds of net short setting and long cover virtually offset.
  • The observance of holidays in North America and lack of macro news flow made for a low conviction session to start the week.
19-Feb-2416-Feb-24Daily OI ChangeDaily OI Change In Packs
SFIZ3185,533186,372-839Whites+1,154
SFIH4210,467210,304+163Reds-3,491
SFIM4220,420217,082+3,338Greens-3,606
SFIU4224,041225,549-1,508Blues+551
SFIZ4284,458288,326-3,868
SFIH5174,991173,251+1,740
SFIM5141,327142,438-1,111
SFIU5109,383109,635-252
SFIZ5124,743129,689-4,946
SFIH690,84790,190+657
SFIM663,60263,560+42
SFIU643,16842,527+641
SFIZ650,88950,322+567
SFIH739,02439,197-173
SFIM729,02128,997+24
SFIU718,65618,523+133
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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