Morgan Stanley Fixed-Global Macro Strategy Positions and Flows Report-107466543

MORGANSTANLEYRESEARCHApril9,202406:39AMGMTMorganStanley&Co.LLCFrancescoGrechiStrategistFrancesco.Grechi@morganstanley.com+1212761-1005NorthApril9,2024AmericaaInterestRateStrategyAmericaPositionsandFlowsReportNorthWeeklyMarketPositioningDataCFTCNon-CommercialFuturesPositions(P.2)TICDataForeignFlows(P.16)(UpdatedfortheweekendingApril02,2024,paramounts)(UpdatedforJanuary,paramounts)WeeklyChange:JanuarysawnetinflowsintheTreasuries,ledbyprivateTotalfrontend:-$8.2bninvestors.China(+$21.7bn)andHongKong(+$5.3bn)werethetopED:-$0.7bnTU:-$1.0bnFV:-$7.2bnTreasurybuyersinJanuary.France(-$-27.0bn)andNorway(-$19.1Totalbackend:-$9.1bnbn)werethetopTreasurysellers.TY:$0.7bnTN:-$1.6bnUS:-$5.8bnUL:-$1.7bnPFRPrimerP.18TradersinFinancialFutures(P.4)(UpdatedfortheweekendingApril02,2024,paramounts)ChartoftheWeek:AssetManagers:Dealersdecreasedtheirnetshorts(%ofOI)tothelowestlevelinlastUpdate:Puton$6.5bnofasteepenerposition.IncreasedtheirsixmonthsinUScontracts.netlongs(%ofOI)tothehighestlevelinlastsixmonthsinTYcontracts.Source:MorganStanleyResearch,CFTCLeveragedFunds:Update:Puton-$7.8bnofaflattenerposition.Decreasedtheirnetshorts(%ofOI)tothelowestlevelinsixmonthsinULcontracts.Dealers:Update:Puton-$11.9bnofaflattenerposition.Decreasedtheirnetshorts(%ofOI)tothelowestlevelinlastsixmonthsinUScontracts.OtherReportables:Update:Puton$0.6bnof...