Morgan Stanley Fixed-Global Macro Strategy Positions and Flows Report-108646953

MORGANSTANLEYRESEARCHJune10,2024InterestRateStrategyPositionsandFlowsReportWeeklyMarketPositioningDataCFTCNon-CommercialFuturesPositions(P.2)TICDataForeignFlows(P.16)(UpdatedfortheweekendingJune04,2024,paramounts)(UpdatedforMarch,paramounts)WeeklyChange:Totalfrontend:-$20.1bnED:-$1.7bnTU:-$2.7bnFV:-$10.3bnTotalbackend:-$3.4bnTY:-$5.3bnTN:$7.6bnUS:-$9.6bnUL:-$1.4bnTradersinFinancialFutures(P.4)(UpdatedfortheweekendingJune04,2024,paramounts)PFRPrimerP.18AssetManagers:Update:Puton$7.1bnofasteepenerposition.Increasedtheirnetlongs(%ofOI)tothehighestlevelinlastsixmonthsinTNcontracts.ChartoftheWeek:LeveragedFunds:Update:Puton-$9.9bnofaflattenerposition.Decreasedtheirnetlongs(%ofOI)tothelowestlevelinsixmonthsinSOFRcontracts.Dealers:Update:Puton-$0.3bnofaflattenerposition.Decreasedtheirnetshorts(%ofOI)tothelowestlevelinlastsixmonthsinULcontracts.OtherReportables:Update:Puton-$1.4bnofaflattenerposition.Increasedtheirnetlongs(%ofOI)tothehighestlevelinsixmonthsinTUcontracts.PrimaryDealerPositions(P.12)(UpdatedforweekendingMay29,2024,paramounts)WeeklyChange:<6y:+$0.7bn6-11y:+$3.7bn>11y:-$0.2bnSource:MorganStanleyResearch,CFTCAgencies:-$1.0bnMBS:-$4.9bnCorp:-$0.9bnTIPS:-$0.4bnLargeCommercialBankPositions(P.14)(UpdatedforweekendingMay29,2024,paramounts)Weeklychange:Deposits:+$77.9bnUST/Agency:+$0.7bnMBS:-$5.9bnC&ILoans:+$3....