BOE: Pill says nothing on monpol in the main speech but could be in Q&A
"We are in the middle of the process of producing our forecasts and our analysis ahead of the Monetary Policy Committee meeting, which will take place two weeks tomorrow, the announcement of the policy decision in early May will be made. That does a little bit constrain what I'm going to say in terms of giving my views on the current conjecture. So as I've said, I'm going to focus in my remarks on longer term issues, and research issues, and then I'll hopefully leave plenty of time for Q and A, where we can touch on other matters."
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EU-BOND AUCTION RESULTS: 5/20-year EU-bond results
| 3.125% Dec-30 EU-bond | 4.00% Apr-44 EU-bond | |
| ISIN | EU000A3LNF05 | EU000A3K4EL9 |
| Amount | E2.371bln | E2.373bln |
| Previous | E2.899bln | E2.326bln |
| Avg yield | 2.805% | 3.786% |
| Previous | 2.575% | 3.287% |
| Bid-to-cover | 1.09x | 1.19x |
| Previous | 1.48x | 1.36x |
| Avg Price | 101.652 | 102.858 |
| Low Price | 101.630 | 102.800 |
| Pre-auction mid | 101.607 | 102.726 |
| Prev avg price | 103.073 | 110.142 |
| Prev low price | 103.060 | 110.090 |
| Prev mid-price | 103.023 | 110.042 |
| Previous date | 21-Oct-24 | 23-Sep-24 |
SONIA: Call spread vs put spread
SFIZ5 96.20/96.30cs vs 95.75/95.65ps, sold the cs at half in 5k.
US TSY FUTURES: CFTC CoT Shows Funds Adding To Short, A Managers Adding To Long
The latest CFTC CoT report shows asset managers building on their overall net long position in Tsy futures, while leveraged funds added to their overall net short.
- Asset managers added to longs in TY, UXY & WN futures, while they trimmed net longs in TU, FV & US futures. The cohort remains net long across all contracts.
- Hedge funds added to net shorts in FV, TY, UXY and WN futures, while they trimmed net shorts in TU & US futures. The cohort remains net short across all contracts.
- Meanwhile, the non-commercial cohort added to net shorts in FV, TY & UXY futures, while trimming net shorts in TU, US & WN futures (further details in image below). The cohort remains net short across all contracts,
Source: MNI - Market News/CFTC/Bloomberg
