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OI Points To Net Short Setting In SONIA White & Red Futures On Thursday

STIR

Yesterday's move lower in SONIA futures and OI data points to net short setting in pack terms for both the whites and the reds, with only relatively modest rounds of apparent net long cover seen in some contracts in that area of the strip. Positioning further out the strip was essentially neutral in net pack OI terms, as apparent net short setting and long cover essentially offset.

  • A reminder that BoE speak from MPC hawk Mann and wider core global FI market weakness/central bank speak factored into the move lower in SONIA futures.
08-Feb-2407-Feb-24Daily OI ChangeDaily OI Change In Packs
SFIZ3187,317186,774+543Whites+15,385
SFIH4216,789209,727+7,062Reds+8,047
SFIM4227,793219,870+7,923Greens-48
SFIU4216,944217,087-143Blues+667
SFIZ4284,549279,317+5,232
SFIH5167,347167,970-623
SFIM5127,819130,992-3,173
SFIU5106,56999,958+6,611
SFIZ5122,230122,517-287
SFIH683,39783,584-187
SFIM661,99361,382+611
SFIU643,42443,609-185
SFIZ651,85550,739+1,116
SFIH737,35937,259+100
SFIM727,57727,003+574
SFIU717,42818,551-1,123
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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