FED: US TSY 26W BILL AUCTION: HIGH 4.150%(ALLOT 87.95%)
Jun-02 15:33
US TSY 26W BILL AUCTION: HIGH 4.150%(ALLOT 87.95%)
US TSY 26W BILL AUCTION: DEALERS TAKE 29.30% OF COMPETITIVES
US TSY 26W BILL AUCTION: DIRECTS TAKE 11.26% OF COMPETITIVES
US TSY 26W BILL AUCTION: INDIRECTS TAKE 59.45% OF COMPETITIVES
US TSY 26W BILL AUCTION: BID/CVR 3.13
FED: US TSY 13W BILL AUCTION: HIGH 4.250%(ALLOT 69.18%)
Jun-02 15:33
US TSY 13W BILL AUCTION: HIGH 4.250%(ALLOT 69.18%)
US TSY 13W BILL AUCTION: DEALERS TAKE 45.07% OF COMPETITIVES
US TSY 13W BILL AUCTION: DIRECTS TAKE 6.39% OF COMPETITIVES
US TSY 13W BILL AUCTION: INDIRECTS TAKE 48.54% OF COMPETITIVES
US TSY 13W BILL AUCTION: BID/CVR 2.68
BONDS: Europe Pi: Eurex Largely Flat/Long Into Rolls
Jun-02 15:30
The June/September Eurex futures roll started at the end of last week, with volumes today suggesting most contracts are likely to be roughly 40% complete as of the close of Monday's trade vs 10-20% Friday).
Generally speaking there are few positioning updates from our May 20 pre-Gilt roll (which is completed) Europe Pi, which showed Schatz in long positioning and Bobl/Buxl/Bund in flat positioning heading into the rolls (the latest move to "short" in the table below for Bund looks roll-related).
OAT remained flat and BTP remained long going into the rolls. Gilts are showing "flat" vs "very long" into the roll but we would take caution in interpreting the structural positioning given the rolling process.
(Note also in the table below, "Latest week's trade" becomes more difficult to interpret in this context due to dropping OIs.)
Updated June 2, 2025 based on OI/price data through May 30, 2025. MNI Pi provides an estimate of fast money positioning in futures. Calculations are for guidance only, and are not trade recommendations in any way. Source: Eurex, ICE, BBG, MNI Calculations