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OI Points To Generally Limited SONIA Futures Positioning Swings On Monday
When looking at the combination of Monday’s general uptick in SONIA futures (SFIZ3 broke the broader theme, settling a touch lower on the day) and OI data there was a mix of apparent long setting and short cover across the bulk of the strip (SFIZ3 seemed to see very modest long cover).
- The only meaningful positioning swing seemed to come via apparent net long setting in SFIH4.
- Participants had little in the way of domestic inputs to trade off, leaving focus on Thursday's BoE decision and cross-market matters.
29-Jan-24 | 26-Jan-24 | Daily OI Change | Daily OI Change In Packs | ||
SFIZ3 | 194,925 | 195,148 | -223 | Whites | +11,405 |
SFIH4 | 205,280 | 194,097 | +11,183 | Reds | -2,417 |
SFIM4 | 181,641 | 180,281 | +1,360 | Greens | -1,942 |
SFIU4 | 216,528 | 217,443 | -915 | Blues | +791 |
SFIZ4 | 257,753 | 255,493 | +2,260 | ||
SFIH5 | 165,800 | 167,817 | -2,017 | ||
SFIM5 | 132,503 | 134,447 | -1,944 | ||
SFIU5 | 98,571 | 99,287 | -716 | ||
SFIZ5 | 108,397 | 109,611 | -1,214 | ||
SFIH6 | 82,113 | 81,934 | +179 | ||
SFIM6 | 54,411 | 54,865 | -454 | ||
SFIU6 | 40,127 | 40,580 | -453 | ||
SFIZ6 | 45,803 | 45,701 | +102 | ||
SFIH7 | 35,178 | 34,903 | +275 | ||
SFIM7 | 22,561 | 22,451 | +110 | ||
SFIU7 | 13,989 | 13,685 | +304 |
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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.