Following an informal meeting of EU leaders on 12 Feb, there is an increased prospect of a group of member states using the "enhanced cooperation model" in an effort to speed up decision-making processes at the top of the EU. The idea would be a multi-speed Europe, with Commission President Ursula von der Leyen noting in a presser on Thursday evening that “Often we move forward with the speed of the slowest, the enhanced cooperation model avoids that.”
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OI data points to net long setting in most contracts as Tsy futures ticked higher on Tuesday, with that theme only interrupted by net short cover in US futures. TY futures provided the largest net DV01 positioning swing on the day (~$5.1mln).
| 13-Jan-26 | 12-Jan-26 | Daily OI Change | OI DV01 Equivalent Change ($) |
TU | 4,469,368 | 4,464,369 | +4,999 | +191,005 |
FV | 6,714,924 | 6,712,433 | +2,491 | +108,436 |
TY | 5,692,840 | 5,615,712 | +77,128 | +5,130,080 |
UXY | 2,583,955 | 2,582,702 | +1,253 | +112,759 |
US | 1,807,345 | 1,817,918 | -10,573 | -1,473,038 |
WN | 2,107,796 | 2,102,811 | +4,985 | +920,406 |
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| Total | +80,283 | +4,989,649 |
SFIH6 96.45^, sold at 8.75 in 1.5k.