OIL: China Buyers May Look to Swap US Crude Cargoes
Buyers will likely look to swap US oil cargoes heading to China with buyers in neighbouring countrie...
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STIR: Mix Of Long Setting & Short Cover In SOFR Futures On Tuesday
OI data points to a mix of net long setting and short cover during Tuesday’s uptick in SOFR futures.
- The most notable positioning swings came via net long setting in SFRM5 & Z5 and net short cover in SFRH6.
- Net pack positioning swings were more modest than what was seen in recent sessions.
| 14-Jan-25 | 13-Jan-25 | Daily OI Change |
| Daily OI Change In Packs |
SFRZ4 | 1,081,734 | 1,087,770 | -6,036 | Whites | +12,175 |
SFRH5 | 1,200,828 | 1,198,583 | +2,245 | Reds | -11,357 |
SFRM5 | 1,075,226 | 1,065,028 | +10,198 | Greens | +2,150 |
SFRU5 | 827,759 | 821,991 | +5,768 | Blues | +8,505 |
SFRZ5 | 1,039,818 | 1,024,840 | +14,978 |
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SFRH6 | 653,378 | 670,335 | -16,957 |
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SFRM6 | 651,829 | 655,656 | -3,827 |
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SFRU6 | 626,416 | 631,967 | -5,551 |
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SFRZ6 | 744,212 | 751,926 | -7,714 |
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SFRH7 | 495,410 | 493,360 | +2,050 |
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SFRM7 | 402,650 | 399,045 | +3,605 |
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SFRU7 | 291,725 | 287,516 | +4,209 |
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SFRZ7 | 274,471 | 269,851 | +4,620 |
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SFRH8 | 214,427 | 216,396 | -1,969 |
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SFRM8 | 178,425 | 176,340 | +2,085 |
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SFRU8 | 109,691 | 105,922 | +3,769 |
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LOOK AHEAD: Wednesday Data Calendar: Dec CPI, Empire Mfg, Fed Speak, Beige Book
- US Data/Speaker Calendar (prior, estimate)
- 15-Jan 0700 MBA Mortgage Applications (-3.7%, --)
- 15-Jan 0830 CPI MoM (0.3%, 0.4%), YoY (2.7%, 2.9%)
- 15-Jan 0830 CPI Ex Food & Energy MoM (0.3%, 0.3%), YoY (3.3%, 3.3%)
- 15-Jan 0830 CPI Index NSA (315.493, 315.616)
- 15-Jan 0830 CPI Core Index SA (322.657, 323.400)
- 15-Jan 0830 Empire Manufacturing (0.2, 0.3)
- 15-Jan 0920 Richmond Fed Barkin, Maryland event (text, Q&A)
- 15-Jan 1000 MN Fed Kashkari fireside chat, (no text, Q&A)
- 15-Jan 1100 NY Fed Williams keynote address CBIA eco-summit (text, Q&A)
- 15-Jan 1130 US Tsy $64B 17W bill auction
- 15-Jan 1200 Chicago Fed Goolsbee Midwest economics forum (no text, Q&A)
- 15-Jan 1400 Fed Beige Book
EQUITIES: EU Bank outright put trades for more
SX7E (21st Mar) 145p, bought for 2.5 in 27k total now.
