STATSCAN SAYS NOV FLASH RETAIL SALES `RELATIVELY UNCHANGED'

MNI BRIEF: Fed's Daly-Have Entered 'Gradualist' Phase Of Cuts

MNI BRIEF: EU Says Ready To Purchase More U.S Energy

MNI China Daily Summary: Friday, December 20

MNI: PBOC Net Drains CNY103.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1901 Fri; -2.13% Y/Y

MNI: BELGIUM DEC BNB BUSINESS CONFIDENCE -13.8

MNI: US NOV PERSONAL INCOME +0.3%; NOM PCE +0.4%

MNI: CANADIAN OCT RETAIL SALES +0.6%; SALES EX-AUTOS/PARTS +0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

STIR: OI Suggests SFRZ4/Z5 Steepener Exposure Was Trimmed On Thursday

STIR
BulletMarketsFixed Income Bullets

OI data points to net short cover dominating through SFRH6 on Thursday, with only limited pockets of net long setting seen through that contract.

  • Beyond there, we saw a mix of net short setting and long cover, as the strip twist steepened.
  • Upon closer inspection, it looks like cover of existing SFRZ4/Z5 steepener positions factored into OI swings in the individual contracts on the day. With the spread back from ’24 highs that came in the wake of Wednesday’s FOMC decision, experiencing the highest daily volume of the month (~48K).

 

Keep reading...Show less
107 words

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.

OI data points to net short cover dominating through SFRH6 on Thursday, with only limited pockets of net long setting seen through that contract.

  • Beyond there, we saw a mix of net short setting and long cover, as the strip twist steepened.
  • Upon closer inspection, it looks like cover of existing SFRZ4/Z5 steepener positions factored into OI swings in the individual contracts on the day. With the spread back from ’24 highs that came in the wake of Wednesday’s FOMC decision, experiencing the highest daily volume of the month (~48K).

 

Keep reading...Show less