Morgan Stanley Fixed-Global Macro Strategy Positions and Flows Report-107233710

MORGANSTANLEYRESEARCHMarch26,202411:24AMGMTMorganStanley&Co.LLCFrancescoGrechiStrategistFrancesco.Grechi@morganstanley.com+1212761-1005NorthMarch26,2024AmericaaInterestRateStrategyAmericaPositionsandFlowsReportNorthWeeklyMarketPositioningDataCFTCNon-CommercialFuturesPositions(P.2)TICDataForeignFlows(P.16)(UpdatedfortheweekendingMarch19,2024,paramounts)(UpdatedforJanuary,paramounts)WeeklyChange:JanuarysawnetinflowsintheTreasuries,ledbyprivateTotalfrontend:$11.0bninvestors.China(+$21.7bn)andHongKong(+$5.3bn)werethetopED:$1.2bnTU:$1.8bnFV:$5.7bnTreasurybuyersinJanuary.France(-$-27.0bn)andNorway(-$19.1Totalbackend:$1.6bnbn)werethetopTreasurysellers.TY:$2.5bnTN:-$5.2bnUS:$5.4bnUL:$1.4bnPFRPrimerP.18TradersinFinancialFutures(P.4)(UpdatedfortheweekendingMarch19,2024,paramounts)ChartoftheWeek:AssetManagers:Dealersincreasedtheirnetshorts(%ofOI)tothehighestlevelinlastUpdate:Puton$13.4bnofasteepenerposition.IncreasedtheirsixmonthsinTUcontracts.netlongs(%ofOI)tothelowestlevelinlastthreemonthsinTYcontracts.Source:MorganStanleyResearch,CFTCLeveragedFunds:Update:Puton$5.4bnofasteepenerposition.Increasedtheirnetshorts(%ofOI)tothelowestlevelinsixmonthsinTUcontracts.Dealers:Update:Puton-$13.1bnofaflattenerposition.Increasedtheirnetshorts(%ofOI)tothehighestlevelinlastsixmonthsinTUcontracts.OtherReportables:Update:Puton-$6.1bnof...