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OI Indicates Recent Theme Of Short Setting In Futures Has Extended This Week

GILTS

A quick look at the combination of price action in gilt futures since Friday (lower settlements each day, although price action seen thus far today threatens to break that run) and OI (which has moved higher each day) points to fresh shorts being added as the sell off extended through Wednesday. We flagged this as a theme during last week’s move via Monday’s MNI Pi (Positioning indicator) release, as well as earmarking structural positioning as moving to roughly flat from long. As such, this week has seen the recent positioning theme develop further.

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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