SOFR: Mix Of Short Setting & Long Cover Seen In Futures On Wednesday
OI data points to net short setting dominating in the whites and reds, before net long cover came to the fore in the greens and blues as SOFR futures ticked lower in the wake of the weekly jobless claims data on Wednesday.
| 31-Dec-25 | 30-Dec-25 | Daily OI Change |
| Daily OI Change In Packs |
SFRZ5 | 1,517,303 | 1,522,510 | -5,207 | Whites | +37,289 |
SFRH6 | 1,290,530 | 1,281,728 | +8,802 | Reds | +32,188 |
SFRM6 | 1,160,353 | 1,149,913 | +10,440 | Greens | -13,814 |
SFRU6 | 1,202,940 | 1,179,686 | +23,254 | Blues | -22,762 |
SFRZ6 | 1,167,088 | 1,150,941 | +16,147 |
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SFRH7 | 869,987 | 862,568 | +7,419 |
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SFRM7 | 757,313 | 755,285 | +2,028 |
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SFRU7 | 804,118 | 797,524 | +6,594 |
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SFRZ7 | 851,903 | 853,469 | -1,566 |
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SFRH8 | 474,351 | 476,412 | -2,061 |
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SFRM8 | 395,775 | 396,767 | -992 |
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SFRU8 | 367,732 | 376,927 | -9,195 |
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SFRZ8 | 342,038 | 349,605 | -7,567 |
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SFRH9 | 210,380 | 216,130 | -5,750 |
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SFRM9 | 208,816 | 213,249 | -4,433 |
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SFRU9 | 172,196 | 177,208 | -5,012 |
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ITALY DATA: Services PMI highest for 2 and a half years
A strong Italian services PMI (in contrast to the weaker-than-expected Spanish number earlier), with the press release noting that this is the highest print for 2 and a half years. Other highlights from the npress release:
- "The improvement in total new order intakes was domestic-led, as export business returned to contraction in November following a month of growth."
- "Amid reports of higher energy, maintenance, administrative and raw material costs, service providers indicated another increase in their operating expenses... A number of companies also reported higher wage bills."
- "Companies opted to raise their charges in an attempt to recover increased cost burdens, at least partially. Although the rate of selling price inflation was moderate, it reached a four-month high and contrasted with the long-run trend of discounting."
MNI: FRANCE NOV FINAL SERV PMI 51.4 (50.8 FLASH, 48.0 OCT)
- MNI: FRANCE NOV FINAL SERV PMI 51.4 (50.8 FLASH, 48.0 OCT)
EURIBOR OPTIONS: Put Spread seller
ERM6 98.00/97.93ps, sold at 4 in 2.5k.
