It is too soon to say if last week’s rally was primarily the result of short-covering. It may be, but the fact remains that equity bulls did defend important support. A relief rally was due given the fact that the … Continued
Following futures positions of non-commercials are as of March 31, 2026. 10-year note: Currently net short 784.1k, up 142.2k. Minutes of the March 17-18 FOMC meeting are due out Wednesday. Markets do not expect these minutes to contain anything earth-shattering. … Continued
Following futures positions of non-commercials are as of March 24, 2026. 10-year note: Currently net short 641.9k, up 44k. Borrowing costs are rising – on the long end. The 10-year treasury yield has gone from an intraday low of 3.96 … Continued
Following futures positions of non-commercials are as of March 17, 2026. 10-year note: Currently net short 597.9k, up 63k. The FOMC (Federal Open Market Committee) held rates as expected. The fed funds rate was left unchanged at a range of … Continued
Following futures positions of non-commercials are as of March 10, 2026. 10-year note: Currently net short 534.9k, down 119.6k. In the 12 months to January, headline and core CPI rose 2.4 percent and 2.5 percent respectively; headline and core PCE … Continued
The major US equity indices have either lost important support or close to doing so. Both large- and small-caps seem to be eyeing the 200-day. Small-cap bulls were unwilling last Friday to pounce on February’s dismal jobs report, rather sold … Continued
Following futures positions of non-commercials are as of March 3, 2026. 10-year note: Currently net short 654.5k, down 119.5k. February pulled a surprise, as the economy unexpectedly lost 92,000 jobs, even as January and December were revised lower by a … Continued
Following futures positions of non-commercials are as of Feb 24, 2026. 10-year note: Currently net short 774k, down 103.8k. ISM manufacturing activity in January entered expansion territory for the first time in 11 months. The job market could be stronger, … Continued
Following futures positions of non-commercials are as of Feb 17, 2026. 10-year note: Currently net short 877.9k, up 64.8k. On Friday, the day the Supreme Court struck down President Donald Trump’s blanket tariffs in a 6-3 vote, the 10-year treasury … Continued
Following futures positions of non-commercials are as of Feb 10, 2026. 10-year note: Currently net short 813k, up 83.6k. Minutes of the January 27-28 FOMC meeting will be out Wednesday. The fed funds rate was left unchanged at that meeting … Continued