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OI Points To Mix Of Net Long Setting & Short Cover In SONIA Futures Post-Labour Market Data

STIR

SONIA futures were unchanged to a little higher come Tuesday’s settlement, with signs of continued softening of the UK labour market allowing the strip to outperform global peers.

  • U.S. CPI data helped contracts away from session highs.
  • Net long setting seemed to dominate in the whites, greens and blues, with pockets of limited net short cover seen.
  • Net short cover dominated in the reds, with SFIM5 breaking the trend, seemingly seeing net long setting.
12-Mar-2411-Mar-24Daily OI ChangeDaily OI Change In Packs
SFIZ3189,760190,001-241Whites+9,764
SFIH4199,359192,215+7,144Reds-10,850
SFIM4262,413262,388+25Greens+2,459
SFIU4210,416207,580+2,836Blues+2,375
SFIZ4292,810298,674-5,864
SFIH5177,896184,995-7,099
SFIM5154,324149,984+4,340
SFIU5117,636119,863-2,227
SFIZ5155,428156,275-847
SFIH6105,161104,744+417
SFIM667,48365,811+1,672
SFIU649,09347,876+1,217
SFIZ653,49053,844-354
SFIH740,15338,804+1,349
SFIM730,45828,725+1,733
SFIU721,13121,484-353
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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