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OI Points To Long Setting Post-ECB

EURIBOR

The combination of yesterday's ECB-driven rally in Euribor futures and OI data points to net long setting in all packs through the blues, with only very limited pockets of apparent net short cover seen in a handful of individual contracts in that zone of the strip.

  • A reminder that ECB President Lagarde's general wording re: inflation, wages and economic growth provided some dovish impetus, along with her lack of meaningful push back against market pricing of rate cuts.
25-Jan-2424-Jan-24Daily OI ChangeDaily OI Change In Packs
ERH4803,513790,416+13,097Whites+45,925
ERM4749,156748,093+1,063Reds+15,746
ERU4485,579473,118+12,461Greens+1,872
ERZ4462,985443,681+19,304Blues+3,763
ERH5387,803384,362+3,441
ERM5364,787360,934+3,853
ERU5263,262263,411-149
ERZ5288,672280,071+8,601
ERH6192,012191,195+817
ERM6119,309119,567-258
ERU697,80397,679+124
ERZ6106,453105,264+1,189
ERH771,01770,601+416
ERM757,35655,211+2,145
ERU745,13945,174-35
ERZ759,57858,341+1,237
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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