Morgan Stanley Fixed-Global Macro Strategy Positions and Flows Report-109234260

MORGANSTANLEYRESEARCHJuly15,2024InterestRateStrategyPositionsandFlowsReportWeeklyMarketPositioningDataCFTCNon-CommercialFuturesPositions(P.2)TICDataForeignFlows(P.16)(UpdatedfortheweekendingJuly09,2024,paramounts)(UpdatedforApril,paramounts)WeeklyChange:Totalfrontend:-$8.3bnED:-$0.4bnTU:-$0.6bnFV:-$1.5bnTotalbackend:$1.4bnTY:-$5.8bnTN:$4.9bnUS:-$2.1bnUL:-$1.4bnTradersinFinancialFutures(P.4)(UpdatedfortheweekendingJuly09,2024,paramounts)PFRPrimerP.18AssetManagers:Update:Puton$6.2bnofasteepenerposition.Increasedtheirnetlongs(%ofOI)tothehighestlevelinlastsixmonthsinFVcontracts.ChartoftheWeek:LeveragedFunds:Update:Puton-$7.1bnofaflattenerposition.Increasedtheirnetshorts(%ofOI)tothehighestlevelinsixmonthsinFVcontracts.Dealers:Update:Puton$5.1bnofasteepenerposition.Decreasedtheirnetshorts(%ofOI)tothelowestlevelinlastsixmonthsinTUcontracts.OtherReportables:Update:Puton-$3.6bnofaflattenerposition.Decreasedtheirnetshorts(%ofOI)tothelowestlevelinlastsixmonthsinSOFRcontracts.PrimaryDealerPositions(P.12)(UpdatedforweekendingJuly03,2024,paramounts)WeeklyChange:<6y:-$5.0bn6-11y:-$2.0bn>11y:+$0.0bnSource:MorganStanleyResearch,CFTCAgencies:-$0.3bnMBS:-$0.4bnCorp:+$1.7bnTIPS:+$1.9bnLargeCommercialBankPositions(P.14)(UpdatedforweekendingJuly03,2024,paramounts)Weeklychange:Deposits:+$30.3bnUST/Agency:-$0.5bnMBS:-$0.3bnC&ILoans:...