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GILTS: Recent Long Building In Futures May Have Factored Into Morning Weakness

GILTS
CEEMEABulletUKMarketsFixed Income Bullets

Open interest data points to fresh net long setting in gilt futures across each of the last 4 sessions, with a ~23K increase in contract OI (~2.4% of OI as of last Tuesday’s close) seen as the contract rallied by 110 ticks.

  • This positioning may have factored into this morning’s weakness in the contract, particularly if the long setting was dominated by short-term accounts.
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Open interest data points to fresh net long setting in gilt futures across each of the last 4 sessions, with a ~23K increase in contract OI (~2.4% of OI as of last Tuesday’s close) seen as the contract rallied by 110 ticks.

  • This positioning may have factored into this morning’s weakness in the contract, particularly if the long setting was dominated by short-term accounts.