MNI: PBOC Net Injects CNY215.7 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1991 Weds; +0.73% Y/Y

MNI BRIEF: Aussie Q3 Wages Print At 0.8% Q/Q, 3.5% Y/Y

CHINA PBOC CONDUCTS CNY233 BLN VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1991 WEDS VS 7.1927

MNI: US Consumers See Lower Inflation, Better Jobs - NY Fed

Australia Q3 Wage Price Index +0.8% Q/Q

MNI: JAPAN OCT CORP GOODS PRICE INDEX +3.4% Y/Y; SEPT REV +3.1%

EZ/UK Bond Supply Calendar: IT, UK, DE, PO Auction Wednesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

US TSY FUTURES: CFTC CoT Shows Hedge Fund Short Trimming Ahead Of Election

US TSY FUTURES
USMarketsHomepagemarkets-real-timeBulletGlobalFixed Income BulletsRegionNorth America

The latest CFTC CoT report showed some slightly more pronounced rounds of cover than we have generally seen in recent times, as participants reduced some exposure ahead of the election results (survey cut off was Tuesday November 5).

  • Hedge funds covered shorts across TY, US & WN futures, while they added to shorts in TU, FV & UXY futures. Their overall net positioning remains short across all contracts but net DV01 exposure moderated from the week prior.
  • Asset managers covered net longs in both TY & WN futures, although long setting across the remainder of the curve meant that their overall net long position was still added to in DV01 terms. The cohort remains net long across all contracts.
  • Net non-commercial positioning swings are outlined in the table below.
  • A reminder that the presence of basis trades skews the positioning metrics observed in the CFTC CoT.

Source: MNI - Market News/CFTC/Bloomberg

146 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.

The latest CFTC CoT report showed some slightly more pronounced rounds of cover than we have generally seen in recent times, as participants reduced some exposure ahead of the election results (survey cut off was Tuesday November 5).

  • Hedge funds covered shorts across TY, US & WN futures, while they added to shorts in TU, FV & UXY futures. Their overall net positioning remains short across all contracts but net DV01 exposure moderated from the week prior.
  • Asset managers covered net longs in both TY & WN futures, although long setting across the remainder of the curve meant that their overall net long position was still added to in DV01 terms. The cohort remains net long across all contracts.
  • Net non-commercial positioning swings are outlined in the table below.
  • A reminder that the presence of basis trades skews the positioning metrics observed in the CFTC CoT.

Source: MNI - Market News/CFTC/Bloomberg