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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.
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MNI POLITICAL RISK ANALYSIS - Week Ahead 9-15 Dec
OI Suggests Short Cover Dominated On Wednesday
The combination of yesterday's move higher in Tsy futures and preliminary OI data point to relatively sizeable short cover across most contracts.
- A modest round of apparent net long setting in UXY futures was the only exception to the broader theme.
- UK CPI data and dovish Fedspeak from Goolsbee were key drivers on the headline front.
- Cleaner positioning and the post-CPI shunt higher in yields were also touted as reasons to put fresh longs to work, but as mentioned above, it seemed that cover was the more dominant positioning factor on the day, at least for futures.
14-Feb-24 | 13-Feb-24 | Daily OI Change | OI DV01 Equivalent Change ($) | |
TU | 3,896,681 | 3,933,570 | -36,889 | -1,342,157 |
FV | 5,824,724 | 5,848,756 | -24,032 | -1,006,885 |
TY | 4,630,891 | 4,669,908 | -39,017 | -2,451,230 |
UXY | 2,199,545 | 2,191,393 | +8,152 | +730,500 |
US | 1,414,871 | 1,421,146 | -6,275 | -831,927 |
WN | 1,664,088 | 1,670,576 | -6,488 | -1,345,603 |
Total | -104,549 | -6,247,301 |
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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.