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OI Points To Mix Of Short Setting & Long Cover In Futures On Monday

EURIBOR

The combination of yesterday’s downtick in Euribor futures and OI data points to net short setting dominating in most contracts through the greens, with light pockets of net long cover also seen. Meanwhile, net OI was little changed in the blue pack as rounds of short setting and long cover essentially offset.

  • ECB speak continues to suggest that June is the base case when it comes to the start of the rate cutting cycle, an outcome that is almost fully discounted by STIR markets.
25-Mar-2422-Mar-24Daily OI ChangeDaily OI Change In Packs
ERM4704,208701,543+2,665Whites+10,474
ERU4426,299427,464-1,165Reds+5,871
ERZ4470,976467,092+3,884Greens+4,010
ERH5353,729348,639+5,090Blues-54
ERM5306,926302,008+4,918
ERU5268,253265,033+3,220
ERZ5323,284321,975+1,309
ERH6195,524199,100-3,576
ERM6164,601163,618+983
ERU6113,833113,233+600
ERZ6111,460111,537-77
ERH796,21293,708+2,504
ERM771,61971,818-199
ERU747,06447,419-355
ERZ758,51257,727+785
ERH833,92634,211-285
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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