Following futures positions of non-commercials are as of July 18, 2017. 10-year note: Currently net long 282.3k, up 25.3k. Through Wednesday, $1.1 billion moved into TLT (iShares 20+year Treasury bond ETF) this month (courtesy of ETF.com). In late April, non-commercials … Continued
Once again, XLF (SPDR financial ETF) has been denied at resistance that goes back a decade. In December 2015, for the first time since July 2006, the Fed raised the fed funds rate. It was a 25-basis-point increase to a … Continued
Yet another high on the S&P 500 large cap index – 25th new closing high year-to-date. The index is now $21 trillion rich! To reach that milestone, it rallied 0.5 percent last Friday to 2463.54 before closing at 2459.27 – … Continued
Following futures positions of non-commercials are as of July 11, 2017. 10-year note: Currently net long 257k, down 5.9k. On Tuesday, markets interpreted Fed Chair Janet Yellen’s Humphrey Hawkins testimony as dovish. Ten-year T-yields fell four basis points to 2.33 … Continued
The US dollar index, pretty much dancing to its own tune since peaking early this year, likely sits at a crucial level technically. The U.S. economy added stronger-than-expected 222,000 non-farm jobs in June. Friday, the US dollar index pretty much … Continued
Following futures positions of non-commercials are as of July 3, 2017. 10-year note: Currently net long 263k, down 39.1k. The speed by which long rates rose the past couple of weeks took many by surprise. Intraday between June 26 and … Continued
U.S. corporate bond issuance was $106.2 billion in June, comprising $83.1 billion in investment-grade (IG) and $23.1 billion in high-yield (HY). This puts the first-half total at $868.1 billion, of which $714.1 billion is in IG and $154 billion in … Continued
Following futures positions of non-commercials are as of June 27, 2017. 10-year note: Currently net long 302.1k, down 43.1k. Rising asset prices were once again a talk of the Fed town. On Tuesday, Janet Yellen, Fed chair, Stanley Fischer, vice-chair, … Continued
Following futures positions of non-commercials are as of June 20, 2017. 10-year note: Currently net long 345.2k, up 71.2k. Last week, 10-year T-yields lost – albeit ever so slightly – a rising trend line from last July. Back then, yields … Continued
Following futures positions of non-commercials are as of June 13, 2017. 10-year note: Currently net long 274k, up 61.9k. Market reaction to the FOMC decision Wednesday smacked of confusion, to say the least. As expected, the Fed raised the fed … Continued