Following futures positions of non-commercials are as of September 11, 2018. 10-year note: Currently net short 682.7k, down 73. The 10-year Treasury rate (2.99 percent) rose from 2.81 percent on August 22 to Friday’s high of three percent. At least … Continued
Here is a brief review of period-over-period change in short interest in the August 16-31 period in nine S&P 500 sectors. XLB (SPDR materials ETF) XLB (59.20) continues to go back and forth around its 50- and 200-day moving averages … Continued
Continued contraction in corporate issuance of high-yield bonds is likely creating a supply-demand imbalance, helping the likes of HYG. Eight months in, 2018 corporate debt issuance continues to shrink. August saw issuance of $98.6 billion, made up of $83.4 billion … Continued
Even though trade tensions particularly between the US and China have heated up, small-caps – supposed beneficiaries of a trade war – have stalled of late. Medium term, downside risks are huge. In the very near term, it is a … Continued
Following futures positions of non-commercials are as of September 4, 2018. 10-year note: Currently net short 682.8k, up 152.9k. Bulls and bears went back and forth this week around the 50-day moving average until Friday when the 10-year rate (2.94 … Continued
For the first time in a while, equity bears may be looking at an opening. Bulls Wednesday defended nearest support on major US equity indices, but breach risks are rising. Kudos to the bulls who this year have withstood many … Continued
As US stocks continue reaching new – and newer – heights, margin debt continues to grow by leaps and bounds. Equity bulls are riding the debt wave, even as bears point to the suffering it will cause eventually. FINRA (Financial … Continued
Following futures positions of non-commercials are as of August 28, 2018. 10-year note: Currently net short 529.8k, down 170.7k. July’s core PCE (personal consumption expenditures) – the Fed’s favorite measure of consumer inflation – was reported Thursday. Inflation perked up … Continued
US corporate profits rose to a new high in 2Q18, but prior quarters were revised lower by $739 billion. Second-quarter US corporate profits were published Wednesday. Profits adjusted for inventory valuation and capital consumption rose 7.7 percent year-over-year to a … Continued
The Nasdaq 100 index enjoyed a mini-breakout Tuesday, only to find itself right underneath seven-month channel resistance. A breakout would be massive. Could shorts come to longs’ rescue in due course? The tech-heavy Nasdaq 100 (7570.25) Tuesday rose to yet … Continued