Following futures positions of non-commercials are as of October 20, 2026. 10-year note: Currently net short 964.3k, down 23.8k. The FOMC (Federal Open Market Committee) meets next week. The policy-making body is meeting after having unanimously raised the fed funds … Continued
Large-cap bulls last week squandered an opportunity to leave a decisive mark on the S&P 500 and Nasdaq 100. Those chances instead went begging, leaving the door open for the bears to inflict more pain. Going into last week, the … Continued
Following futures positions of non-commercials are as of October 13, 2026. 10-year note: Currently net short 988.1k, up 91.6k. Last week, after a massive rally, the 10-year treasury yield gave out subtle signs of fatigue. This week, it gave back … Continued
Following futures positions of non-commercials are as of October 6, 2026. 10-year note: Currently net short 896.5k, down 4.1k. The persisting strength in the 10-year treasury yield has been the talk of the town. In February this year, these notes … Continued
Following futures positions of non-commercials are as of September 29, 2026. 10-year note: Currently net short 900.6k, up 88.9k. FOMC minutes for the September 15-16 meeting are due out Wednesday. The fed funds rate was raised by 25 basis points … Continued
Following futures positions of non-commercials are as of September 22, 2026. 10-year note: Currently net short 811.8k, down 9.5k. Lateral support at 4.75s on the 10-year treasury yield was never tested, with this week’s low taking place at 4.93 percent … Continued
The Fed raised rates for the first time in just over three years. Equities are acting as if it is one, or two, and done. But futures traders are pricing in three more hikes by December next year. The major … Continued
Following futures positions of non-commercials are as of September 15, 2026. 10-year note: Currently net short 821.2k, down 13.5k. Markets were begging the Federal Reserve’s FOMC (Federal Open Market Committee) to hike, and the policy-making body did not disappoint, raising … Continued
Following futures positions of non-commercials are as of September 8, 2026. 10-year note: Currently net short 834.8k, down 74.5k. Last week, August’s much-better-than-expected jobs report – creating 162,000 non-farm jobs coupled with an upward revision for June and July – … Continued
Major equity indices essentially went sideways last week, and interest rates firmed up. August fared very well in job creation, and this probably puts the FOMC under pressure to tighten monetary policy, provided of course this Friday’s CPI report plays … Continued