Barclays Andres Mok and his Interest Rate Derivatives team have noticed a relatively rare – but not inconsequential – technicality that is looming in the bond futures market.
With record exposure on both the long side of the futures market (asset managers) and short-side (hedge funds), the fine print of the futures contract is very much coming into focus.
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https://www.zerohedge.com/markets/musical-chairs-treasury-basis-traders-edge-surging-rates-spark-bond-futures-technicality
