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OI Points To Mix Of Short Setting & Long Cover On Tuesday, Driven By ECB Pushback

STIR

Continued pushback against market pricing from across the ECB dove-hawk spectrum weighed on the Euribor futures strip on Tuesday. The impact of similarly targeted Fedspeak was also felt later in the day.

  • That price movement, coupled with OI data, points to the following positioning swings:
  • Whites: Long cover dominated in net pack terms, with apparent net short setting only seen in ERM4 futures.
  • Reds: Net short setting dominated in pack terms, with only modest long cover in ERZ5 breaking that theme.
  • Greens: Net short setting was slightly more prominent in pack terms with only ERH6 bucking the wider theme via a modest round of apparent long cover.
  • Blues: Modest long cover was seen in net pack terms, although OI contract swings here were limited.
16-Jan-2415-Jan-24Daily OI ChangeDaily OI Change In Packs
ERH4835,983836,897-914Whites-6,828
ERM4693,498682,761+10,737Reds+9,823
ERU4490,368494,672-4,304Greens+1,121
ERZ4443,646455,993-12,347Blues-1,680
ERH5386,908385,450+1,458
ERM5344,302338,290+6,012
ERU5245,865242,605+3,260
ERZ5269,018269,925-907
ERH6180,158185,483-5,325
ERM6112,578107,975+4,603
ERU696,63196,317+314
ERZ6100,20598,676+1,529
ERH766,00365,974+29
ERM748,82349,299-476
ERU738,27038,544-274
ERZ753,52154,480-959
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

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