MNI China Daily Summary: Tuesday, December 10

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CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

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OI Points To Long Setting And Short Cover Ahead Of The Weekend

STIR

The combination of Friday’s rally across the SOFR strip and preliminary open interest data point to a mix of long setting and short cover ahead of the weekend.

  • Whites: Long setting seemingly dominated; this is where we saw the most prominent OI swing in pack terms.
  • Reds: Seemingly saw the largest round of short cover on a pack basis.
  • Greens: Long setting was the dominant factor on a pack basis, although the move in OI was fairly limited.
  • Blues: Short cover seemingly dominated on a pack basis, although the move in OI was fairly limited.
  • A quick reminder that pre-weekend hedging flow surrounding Israel-Hamas escalation worry was the dominant factor for markets on Friday.
20-Oct-2319-Oct-23Daily OI ChangeDaily OI Change In Packs
SFRU3933,687933,053+634Whites+41,665
SFRZ31,524,6641,518,895+5,769Reds-33,327
SFRH41,030,5641,005,628+24,936Greens+5,813
SFRM4978,426968,100+10,326Blues-6,705
SFRU4828,846831,638-2,792
SFRZ4972,342996,433-24,091
SFRH5533,438531,170+2,268
SFRM5577,602586,314-8,712
SFRU5514,305518,776-4,471
SFRZ5547,533537,205+10,328
SFRH6342,016339,971+2,045
SFRM6299,502301,591-2,089
SFRU6250,827245,899+4,928
SFRZ6188,926195,612-6,686
SFRH7134,095136,931-2,836
SFRM7131,650133,761-2,111
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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