NOK: Downside Pressure In Norwegian Rates Continues

Jul-03 10:21

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Downside pressure in Norwegian rates since the June Norges Bank decision has extended this morning, ...

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STIR: Mix Of Net Long Setting & Cover Seen In SOFR Futures On Monday

Jun-03 10:16

OI data points to a mix of net long setting and some form of cover in the SOFR whites on Monday. Net long setting was seemingly seen in SFRU5 & Z5, while the unchanged price status of SFRH5 & M5 makes it hard to provide any real inference when it comes to the nature of the apparent net cover seem in those contracts.

  • Net long setting then dominated in most of the reds, before a more balanced mix of net long setting and short cover became evident further out the strip.

 

02-Jun-25

30-May-25

Daily OI Change

 

Daily OI Change In Packs

SFRH5

1,068,953

1,066,311

+2,642

Whites

+2,226

SFRM5

1,452,883

1,469,931

-17,048

Reds

+36,874

SFRU5

1,119,211

1,112,571

+6,640

Greens

-6,422

SFRZ5

1,078,359

1,068,367

+9,992

Blues

-129

SFRH6

782,440

766,816

+15,624

 

 

SFRM6

767,357

751,371

+15,986

 

 

SFRU6

709,679

700,153

+9,526

 

 

SFRZ6

839,118

843,380

-4,262

 

 

SFRH7

669,181

661,066

+8,115

 

 

SFRM7

586,744

594,032

-7,288

 

 

SFRU7

415,716

421,009

-5,293

 

 

SFRZ7

418,328

420,284

-1,956

 

 

SFRH8

289,661

287,493

+2,168

 

 

SFRM8

213,789

211,083

+2,706

 

 

SFRU8

162,654

164,162

-1,508

 

 

SFRZ8

170,139

173,634

-3,495

 

 

OUTLOOK: Price Signal Summary - A Bull Cycle In S&P E-Minis Remains Intact

Jun-03 10:09
  • In the equity space, the trend condition in S&P E-Minis is unchanged and remains bullish. Recent gains delivered a print above 5993.50, the May 20 high and a bull trigger. The break highlights a resumption of the uptrend and maintains a price sequence of higher highs and higher lows. An extension would open 6057.00 next, the Mar 3 high. Key support lies at 5756.81, the 50-day EMA. A clear break of this average is required to highlight a reversal.
  • The trend cycle in EUROSTOXX 50 futures remains bullish and recent weakness appears corrective. Moving average studies are in a bull-mode position, highlighting a clear dominant uptrend. Sights are on 5516.00, the Mar 3 high and the key bull trigger. Clearance of this level would strengthen a bull theme. Key support to watch lies at 5258.36, the 50-day EMA.

FINLAND T-BILL AUCTION RESULTS: 8/11-Month RFTBs

Jun-03 10:08
Type8-month RFTB11-month RFTB
MaturityFeb 13, 2026May 13, 2026
AmountE874mlnE1.126bln
TargetE2blnShared
PreviousE1.116blnE1.317bln
Avg yield1.920%1.907%
Previous2.010%2.290%
Bid-to-cover2.14x1.67x
Previous1.77x1.4x
Previous dateMay 13, 2025Mar 11, 2025

Source: Bloomberg