Following futures positions of non-commercials are as of October 1, 2019. 10-year note: Currently net short 163.6k, down 32.7k. Futures traders this week reacted to September’s ISM reports by jacking up the probability of a 25-basis-point cut later this month … Continued
Following futures positions of non-commercials are as of September 24, 2019. 10-year note: Currently net short 196.3k, down 33.7k. On September 3, the 10-year Treasury yield dropped to 1.43 percent intraday, nine basis points from the record low 1.34 percent … Continued
Following futures positions of non-commercials are as of September 17, 2019. 10-year note: Currently net short 230k, down 70.5k. In the interbank lending market, there were two developments this week. The Fed cut its policy rate by 25 basis points … Continued
Following futures positions of non-commercials are as of September 10, 2019. 10-year note: Currently net short 300.4k, down 77.4k. The FOMC meets next Wednesday. In the futures market, the odds of a 25-basis-point easing currently stand at 80 percent. This … Continued
Gold has regained its shine. Sort of. In the past three months, the metal has rallied 23 percent. At the same time, it is running into important resistance, including Fibonacci and eight-year horizontal. The metal likely takes a breather near … Continued
Following futures positions of non-commercials are as of September 3, 2019. 10-year note: Currently net short 377.9k, up 68k. The 10-year Treasury yield (1.55 percent) rallied four basis points this week, but not before setting a three-plus-year low of 1.43 … Continued
Following futures positions of non-commercials are as of August 27, 2019. 10-year note: Currently net short 309.9k, down 91.9k. The 10-year Treasury yield (1.51 percent) could be setting up for a rally – duration and magnitude notwithstanding. Wednesday’s intraday low … Continued
Following futures positions of non-commercials are as of August 20, 2019. 10-year note: Currently net short 401.8k, down 12.5k. The German government Wednesday sold €824 million in zero-coupon 30-year bonds, at a negative yield of 0.11 percent. It offered €2 … Continued
Following futures positions of non-commercials are as of August 13, 2019. 10-year note: Currently net short 414.3k, up 23.5k. The 10-year Treasury yield (1.54 percent) shed 20 more basis points this week. In fact, at the lows rates were down … Continued
Following futures positions of non-commercials are as of August 6, 2019. 10-year note: Currently net short 390.9k, up 7k. The 10-year Treasury yield (1.73 percent) dropped to 1.6 percent intraday Wednesday – the lowest since September 2016. July that year, … Continued