Free Trial

OI Suggests Net Long Setting Dominated During Powell-Driven Rally

US TSY FUTURES

OI data suggests that net long setting dominated during yesterday’s rally, with contracts going out at/near late session highs after Chair Powell opened the door to a September Fed cut

  • The recent run of long building in futures failed to deter a rally.
  • Limited net short cover in TU futures provided the only exception to the broader theme, with over $10mn of DV01 net longs added in curve-wide terms.
31-Jul-2430-Jul-24Daily OI ChangeOI DV01 Equivalent Change ($)
TU4,392,6794,401,139-8,460-315,461
FV6,585,8016,565,167+20,634+872,906
TY4,789,1814,740,387+48,794+3,158,134
UXY2,123,6892,099,495+24,194+2,203,034
US1,722,1941,692,220+29,974+4,046,981
WN1,648,1611,643,938+4,223+883,544
Total+119,359+10,849,138
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.