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Free AccessMNI EUROPEAN MARKETS ANALYSIS: China Equities Lower Post CEWC
MNI EUROPEAN OPEN: Sharp Fall In China Bond Yields Continues
OI Points To Mix Of Short Setting & Long Cover Across Euribor Futures Strip On Friday
The combination of Friday's move lower in Euribor futures and OI data point to the following positioning swings on the Euribor futures strip into the weekend:
- Whites: An apparent mix of net long cover (ERM4) and short setting (ERZ4). It is harder to be sure when it comes to positioning swings in ERH4 & U4, given their unchanged net price status on the day.
- Reds: Net short setting was seemingly seen across all contracts in the pack.
- Greens: An apparent mix of net short setting (ERH6 & U6) and long cover (ERM6 & Z6), with the latter dominating.
- Blues: An apparent mix of net long cover (ERH7 & Z7) and short setting (ERM7 & U7), with the former dominating in net pack terms.
26-Jan-24 | 25-Jan-24 | Daily OI Change | Daily OI Change In Packs | ||
ERH4 | 800,393 | 803,513 | -3,120 | Whites | -7,310 |
ERM4 | 740,650 | 749,156 | -8,506 | Reds | +20,696 |
ERU4 | 488,797 | 485,579 | +3,218 | Greens | -4,874 |
ERZ4 | 464,083 | 462,985 | +1,098 | Blues | -2,387 |
ERH5 | 394,173 | 387,803 | +6,370 | ||
ERM5 | 367,399 | 364,787 | +2,612 | ||
ERU5 | 267,336 | 263,262 | +4,074 | ||
ERZ5 | 296,312 | 288,672 | +7,640 | ||
ERH6 | 192,575 | 192,012 | +563 | ||
ERM6 | 118,177 | 119,309 | -1,132 | ||
ERU6 | 99,811 | 97,803 | +2,008 | ||
ERZ6 | 100,140 | 106,453 | -6,313 | ||
ERH7 | 66,807 | 71,017 | -4,210 | ||
ERM7 | 59,091 | 57,356 | +1,735 | ||
ERU7 | 45,398 | 45,139 | +259 | ||
ERZ7 | 59,407 | 59,578 | -171 |
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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.