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OI Points To Long Cover In Euribor Whites & Short Setting In SONIA Whites On Tues

STIR

A quick look at yesterday’s move lower in Euribor futures and OI data points to net long cover in ERM4 & U4 providing the dominant net positioning movement on the strip on Tuesday, as global factors dominated.

  • Observation of the same factors on the SONIA futures strip point to net short setting as the dominant positioning move in the whites, as local wage data and continued U.S. Fed repricing factored in. Net short setting also dominated in the reds, with little movement in net pack OI and a light bias to net short cover seen in both the greens and blues.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income BulletsHomepage
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income BulletsHomepage

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