Following futures positions of non-commercials are as of December 8, 2020. 10-year note: Currently net long 29.2k, up 3.4k. The FOMC meets next week. The two-day meeting ends on Wednesday with a press conference by Chair Jerome Powell. This is … Continued
There is an air of invincibility among equity bulls. A contrarian-minded investor may find this uncomfortably lop-sided, but nothing says it cannot continue in a seasonally favorable period. The recent jump in investor sentiment is yet to translate into consumer … Continued
Following futures positions of non-commercials are as of December 1, 2020. 10-year note: Currently net long 25.7k, down 89.2k. Once again, the 10-year Treasury yield (0.97 percent) is back at testing the one percent level. Friday, rates rose as high … Continued
Following futures positions of non-commercials are as of November 24, 2020 (data published this Monday instead of last Friday due to Thanksgiving holiday). 10-year note: Currently net long 115k, down 37.3k. The 10-year Treasury yield (0.84 percent) has come under … Continued
Small-caps and tech continue to diverge. Post-vaccine news, longs are gravitating toward the former and leaving the latter. Amidst this, signs of fatigue are also showing up on the S&P 500, while VIX acts like it wants to rally. The … Continued
Following futures positions of non-commercials are as of November 17, 2020. 10-year note: Currently net long 152.3k, up 57.7k. Both the 50- and 200-day moving averages closed Thursday at 0.77 percent. The former is rising and the latter dropping. Friday, … Continued
Following futures positions of non-commercials are as of November 10, 2020 (data published this Monday instead of last Friday due to Veterans Day holiday). 10-year note: Currently net long 94.6k, up 100.3k. The last time the 10-year Treasury yield (0.91 … 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
Major US equity indices took it on the chin last week. Medium- to long-term, there is more to go on the downside – if nothing else just to unwind overbought conditions. Near-term, in the right circumstances for bulls, a relief … 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