EU-BILL AUCTION RESULTS: 3/6/12-Month EU-Bills

The latest CFTC CoT report showed asset managers building on their net long position in the week ending September 9, with net long setting in FV, TY, US & WN futures comfortably outweighing net long cover in TU & UXY futures. The cohort added a net ~$8.6mln DV01 of risk across the curve and remains net long all contracts.

• Leveraged funds added modestly to their existing net short, with net short setting in TU, FV, TY & WN futures mostly cancelled out by short cover in UXY & US futures. This meant that the cohort added ~$1.2mln of fresh curve-wide risk on the week and remains net short across the curve.
• Broader non-commercial investors added to net shorts in the wings (TU, US & WN futures), while they trimmed net shorts in the belly and intermediates (FV, TY & UXY).
• Greater details covering non-commercial positioning moves can be found in the table below.

Source: MNI - Market News/CFTC/Bloomberg Finance L.P.

You are invited to listen to a Livestreamed MNI Connect Video Conference with Luis de Guindos, the Vice-President of the European Central Bank.

Details below:

• Speaker: Luis de Guindos, Vice-President of the European Central Bank
• Topic of discussion: 'Euro Area Growth and Inflation Outlook.'
• Date: Thursday 18 September, 9am-10:30am London time
• This event is on the record and will run as a Zoom Webinar

To register please go to: MNI Webcast Registration

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