Free Trial

OI Points to Mix Of Short Setting & Long Cover In Most SONIA Futures On Friday

STIR

The combination of Friday's move lower in SONIA futures and OI data points to a mix of net short setting and long cover across most of the SONIA futures strip ahead of the weekend, with the former dominating in all packs through the blues.

  • The exception to the rule came via apparent modest net long setting in SFIZ3 futures.
  • A reminder that the U.S. labour market report and some hawkish rhetoric from BoE chief economist Pill were in the driving seat when it came to price action. The reds were under the most pressure, shedding 24-26bp on the day come settlement.
02-Feb-2401-Feb-24Daily OI ChangeDaily OI Change In Packs
SFIZ3186,505187,645-1,140Whites+3,548
SFIH4204,514205,758-1,244Reds+1,076
SFIM4190,167185,110+5,057Greens+3,223
SFIU4206,757205,882+875Blues+618
SFIZ4267,723263,034+4,689
SFIH5168,572167,778+794
SFIM5126,786133,456-6,670
SFIU596,45694,193+2,263
SFIZ5111,758112,626-868
SFIH681,82079,391+2,429
SFIM658,66357,840+823
SFIU641,74940,910+839
SFIZ646,00045,776+224
SFIH736,16435,959+205
SFIM722,80823,065-257
SFIU714,71714,271+446
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

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.