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OI Points To Mix Of Long Setting & Short Cover On Thursday's Geopolitical Angst

US TSY FUTURES

The combination of yesterday's late geopolitical risk-driven rally and preliminary OI data points to a combination of net long setting & short cover across the curve.

  • Net OI/positioning swings were fairly limited in each contract.
  • Weekly jobless claims data also factored into the move earlier in the day.
  • Tsys have faded from yesterday's highs ahead of today's NFP release, with wider cross-asset moves pointing to an unwind of some geopolitical risk premium ahead of the data release (more colour is available in our previous Tsy bullets).
04-Apr-2403-Apr-24Daily OI ChangeOI DV01 Equivalent Change ($)
TU3,847,4873,812,929+34,558+1,293,359
FV6,092,6076,075,907+16,700+703,543
TY4,341,7694,343,753-1,984-128,844
UXY2,033,9652,030,767+3,198+280,343
US1,523,1791,528,370-5,191-675,106
WN1,597,5801,595,683+1,897+384,536
Total+49,178+1,857,830
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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