Free Trial

OI Points To Mix Of Long Cover & Short Setting In SOFR Futures On Monday

STIR

Yesterday's move lower and preliminary OI data points to a mix of net short setting (dominant in the greens and blues) and net long cover (dominant in the whites and reds).

  • Momentum and continued speculation surrounding higher for longer rates (news flow saw an FT survey pointing the need for higher for longer rates and potential hawkish Fed appointments by Trump if he becomes President) was front and centre.
  • Fed rate cut premium has been reduced in recent weeks, with plenty of focus on Wednesday's post-meeting rhetoric from Fed Chair Powell and the updated dot plot. See our full preview of the FOMC decision here.
18-Mar-2415-Mar-24Daily OI ChangeDaily OI Change In Packs
SFRZ31,222,9351,223,771-836Whites-37,465
SFRH41,057,5391,090,216-32,677Reds-2,472
SFRM41,112,7361,123,623-10,887Greens+12,325
SFRU4905,468898,533+6,935Blues+10,678
SFRZ41,122,8971,116,744+6,153
SFRH5708,796709,935-1,139
SFRM5749,540758,320-8,780
SFRU5652,670651,376+1,294
SFRZ5661,981660,525+1,456
SFRH6456,327459,637-3,310
SFRM6496,915488,164+8,751
SFRU6364,136358,708+5,428
SFRZ6338,675339,005-330
SFRH7207,508201,970+5,538
SFRM7188,569185,525+3,044
SFRU7154,317151,891+2,426
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.