Morgan Stanley Fixed-Global Macro Strategy Positions and Flows Report-107898804

MORGANSTANLEYRESEARCHApril29,202401:50PMGMTMorganStanley&Co.LLCFrancescoGrechiStrategistFrancesco.Grechi@morganstanley.com+1212761-1005NorthApril29,2024AmericaaInterestRateStrategyAmericaPositionsandFlowsReportNorthWeeklyMarketPositioningDataCFTCNon-CommercialFuturesPositions(P.2)TICDataForeignFlows(P.16)(UpdatedfortheweekendingApril23,2024,paramounts)(UpdatedforFebruary,paramounts)WeeklyChange:FebruarysawnetinflowsintheTreasuries,ledbyprivateTotalfrontend:$3.5bninvestors.Caribbean(+$16.9bn)andChina(+$13.2bn)werethetopED:-$1.1bnTU:-$1.6bnFV:$5.6bnTreasurybuyersinFebruary.Canada(-$-28.8bn)andJapan(-$24.7Totalbackend:-$7.9bnbn)werethetopTreasurysellers.TY:$0.7bnTN:-$6.6bnUS:-$0.9bnUL:-$0.4bnPFRPrimerP.18TradersinFinancialFutures(P.4)(UpdatedfortheweekendingApril23,2024,paramounts)ChartoftheWeek:AssetManagers:AssetManagersincreasedtheirnetlongs(%ofOI)tothehighestlevelUpdate:Puton-$26.5bnofaflattenerposition.IncreasedtheirinlastsixmonthsinTUcontracts.netlongs(%ofOI)tothehighestlevelinlastsixmonthsinTUcontracts.Source:MorganStanleyResearch,CFTCLeveragedFunds:Update:Puton$18.1bnofasteepenerposition.Decreasedtheirnetlongs(%ofOI)tothelowestlevelinsixmonthsinSOFRcontracts.Dealers:Update:Puton$4.6bnofasteepenerposition.Increasedtheirnetshorts(%ofOI)tothehighestlevelinlastsixmonthsinULcontracts.OtherReportables:Update:P...