US equities surged last week pricing in a divided government – a Democrat in the White House, Republicans in control of the Senate and Democrats of the House of Representatives. Major indices rallied right into important resistance. The focus now … Continued
Following futures positions of non-commercials are as of November 3, 2020. 10-year note: Currently net short 5.7k, up 21.9k. No sooner did the 10-year Treasury yield (0.82 percent) recapture the 200-day than it was lost and then gained back again. … Continued
Following futures positions of non-commercials are as of October 27, 2020. 10-year note: Currently net long 16.2k, down 6.8k. The FOMC meets next week. After this, only one meeting remains this year, slated for December 15-16. It will be interesting … Continued
Following futures positions of non-commercials are as of October 20, 2020. 10-year note: Currently net long 23k, down 52.3k. Treasury yields are rallying. The 10-year (0.84 percent) Friday unsuccessfully tested its 200-day moving average, even as the 30-year (1.65 percent) … Continued
Following futures positions of non-commercials are as of October 13, 2020. 10-year note: Currently net long 75.3k, up 5.7k. After taking a one-month pause through early July, the Federal Reserve once again is accumulating assets. In the week to Wednesday, … Continued
Following futures positions of non-commercials are as of October 6, 2020. 10-year note: Currently net long 69.5k, down 59.1k. The 30-year Treasury yield (1.57 percent) this week broke through its 200-day moving average (1.55 percent), having taken out the 50-day … Continued
Following futures positions of non-commercials are as of September 29, 2020. 10-year note: Currently net long 128.6k, up 46.4k. FOMC minutes for the September 15-16 meeting are due out Wednesday. Rates at that meeting were obviously left unchanged between zero … Continued
Even as tech shorts have meaningfully increased their activity, Nasdaq 100 longs have tried to put foot down just under the 50-day. A takeout of the average can shift sentiment – duration notwithstanding. Tech bulls are trying hard to put … Continued
Following futures positions of non-commercials are as of September 22, 2020. 10-year note: Currently net long 82.2k, up 67.4k. Several Fed officials this week stressed on the need for Congress to get its act together and provide fiscal help. This … Continued
Following futures positions of non-commercials are as of September 15, 2020. 10-year note: Currently net long 14.8k, up 5.3k. The Fed Wednesday said rates will stay zero-bound through the end of 2023. The fed funds rate in March was lowered … Continued