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OI Points To Mix Of Long Setting & Short Cover On SONIA Futures Strip On Wednesday

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The combination of yesterday's move higher in SONIA futures and OI data points to a mix of short cover and long setting across the strip on Wednesday. The whites and the reds were dominated by net short cover, with only a modest round of apparent net long setting in SFIM5 breaking the broader trend. A round of net long setting in SFIZ5 tipped the net pack positioning move that way when it came to the greens. Meanwhile, the blues saw modest rounds of net long setting and short cover essentially offset.

31-Jan-2430-Jan-24Daily OI ChangeDaily OI Change In Packs
SFIZ3192,343194,583-2,240Whites-9,957
SFIH4202,822204,387-1,565Reds-12,230
SFIM4185,240188,234-2,994Greens+1,485
SFIU4210,605213,763-3,158Blues+244
SFIZ4257,075263,647-6,572
SFIH5168,904171,941-3,037
SFIM5132,159131,243+916
SFIU593,26796,804-3,537
SFIZ5115,353111,269+4,084
SFIH679,65281,973-2,321
SFIM655,95556,008-53
SFIU639,95040,175-225
SFIZ646,72046,180+540
SFIH736,26836,485-217
SFIM723,33223,742-410
SFIU714,33013,999+331
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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