Free Trial

OI Indicates Mix Of Positioning Swings On SONIA Strip On Monday

STIR

The mix of Monday's twist flattening of the SONIA futures strip & OI point to the following positioning swings to start the week:

  • Whites: Apparent net short setting in SFIM4 & U4. It is hard to be certain when it comes to SFIZ3 & H4 positioning swings given their unchanged price status on the day come settleemnt, although the net dip in OI in those contracts outweighed the moves in OI further out the strip when it came to net pack OI terms.
  • Reds: Apparent short setting in SFIZ4 through SFIM5, with very modest long cover seen in SFIU5. Short setting seemed to dominate in net pack OI terms.
  • Greens: A mix of apparent long cover (SFIZ5) and little net change in OI for contracts further out in the pack.
  • Blues: Light net long setting was seemingly seen in all contracts in the pack.
22-Jan-2419-Jan-24Daily OI ChangeDaily OI Change In Packs
SFIZ3194,916195,027-111Whites-1,635
SFIH4183,092190,037-6,945Reds+6,488
SFIM4178,645176,717+1,928Greens-2,744
SFIU4193,683190,190+3,493Blues+2,307
SFIZ4259,533257,145+2,388
SFIH5155,428153,242+2,186
SFIM5127,315125,149+2,166
SFIU595,39595,647-252
SFIZ5104,128106,333-2,205
SFIH684,48985,224-735
SFIM657,10456,820+284
SFIU637,96038,048-88
SFIZ642,24040,504+1,736
SFIH731,89831,573+325
SFIM719,16018,935+225
SFIU711,13811,117+21
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

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.