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OI Points to Mix Of Positioning Across SONIA Futures Strip On Thursday

STIR

The mix of yesterday's twist steepening on the SONIA futures strip and OI data points to the following net positioning swings on Thursday:

  • The whites were dominated by apparent net long setting in SFIM4, with only modest rounds of net OI movement seen there.
  • Further out, net positioning was seemingly tilted towards net short setting in pack terms, although modest pockets of long cover seemed to show up as well.
  • Local matters (comments from BoE's Greene & a round of flash PMIs that would seemingly help delay calls for BoE cuts) didn't really impact price action, with global matters more dominant.
22-Feb-2421-Feb-24Daily OI ChangeDaily OI Change In Packs
SFIZ3186,809185,949+860Whites+15,754
SFIH4203,228202,834+394Reds+11,294
SFIM4242,088227,284+14,804Greens+3,749
SFIU4223,204223,508-304Blues+2,094
SFIZ4301,878295,207+6,671
SFIH5172,347170,852+1,495
SFIM5137,426136,823+603
SFIU5115,330112,805+2,525
SFIZ5131,673127,062+4,611
SFIH688,43489,682-1,248
SFIM664,26563,452+813
SFIU642,42842,855-427
SFIZ653,41652,519+897
SFIH740,28939,592+697
SFIM729,06829,175-107
SFIU719,82819,221+607
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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