Free Trial

OI Points To Long Cover In SOFR Futures Following Yesterday’s Data

STIR

OI data points to long cover dominating in SOFR futures following yesterday’s data.

  • Pockets of short setting were also seen.
  • Fed Funds futures remain anchored to pricing 100bp of cuts through year end.
  • Next week’s NFP report presents the major input ahead of the Sep FOMC, given the central bank’s increased focus on the employment side of its dual mandate.
29-Aug-2428-Aug-24Daily OI ChangeDaily OI Change In Packs
SFRM41,141,6781,128,906+12,772Whites-13,771
SFRU41,370,9901,377,512-6,522Reds-18,965
SFRZ41,188,6361,204,212-15,576Greens-37,374
SFRH5916,806921,251-4,445Blues-896
SFRM5888,752896,743-7,991
SFRU5672,732677,771-5,039
SFRZ5918,261901,593+16,668
SFRH6666,209688,812-22,603
SFRM6681,292723,134-41,842
SFRU6551,929564,683-12,754
SFRZ6495,603481,120+14,483
SFRH7297,499294,760+2,739
SFRM7289,654291,551-1,897
SFRU7225,357220,489+4,868
SFRZ7232,400234,519-2,119
SFRH8166,956168,704-1,748
142 words

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.

OI data points to long cover dominating in SOFR futures following yesterday’s data.

  • Pockets of short setting were also seen.
  • Fed Funds futures remain anchored to pricing 100bp of cuts through year end.
  • Next week’s NFP report presents the major input ahead of the Sep FOMC, given the central bank’s increased focus on the employment side of its dual mandate.
29-Aug-2428-Aug-24Daily OI ChangeDaily OI Change In Packs
SFRM41,141,6781,128,906+12,772Whites-13,771
SFRU41,370,9901,377,512-6,522Reds-18,965
SFRZ41,188,6361,204,212-15,576Greens-37,374
SFRH5916,806921,251-4,445Blues-896
SFRM5888,752896,743-7,991
SFRU5672,732677,771-5,039
SFRZ5918,261901,593+16,668
SFRH6666,209688,812-22,603
SFRM6681,292723,134-41,842
SFRU6551,929564,683-12,754
SFRZ6495,603481,120+14,483
SFRH7297,499294,760+2,739
SFRM7289,654291,551-1,897
SFRU7225,357220,489+4,868
SFRZ7232,400234,519-2,119
SFRH8166,956168,704-1,748