Following futures positions of non-commercials are as of December 19, 2017. 10-year note: Currently net short 44.2k, down 89k. Is the big one around the corner? The big breakout, that is? Ten-year Treasury yields, at one point at 2.5 percent, … Continued
From the sales point of view, U.S. housing remains way below the bubble highs of a decade ago, but several other metrics have pushed into record territory. November’s existing home sales were published this week. They were up 5.6 percent … Continued
Even as passage of tax measures in Congress looks like a done deal, 2018 operating earnings estimates for S&P 600 small cap companies are yet to show signs of stability. Post-presidential election in November last year, U.S. small-caps outperformed – … Continued
Following futures positions of non-commercials are as of December 12, 2017. 10-year note: Currently net long 44.7k, up 30.4k. The Fed and the Administration are not on the same page when it comes to expected growth in the U.S. economy. … Continued
With the U.S. unemployment rate at a nearly 17-year low and job growth still healthy, some divergence is popping up in jobs-related data. November created 228,000 non-farm jobs. With one month to go, this amounts to a monthly average of … Continued
Following futures positions of non-commercials are as of December 5, 2017. 10-year note: Currently net long 14.3k, down 109.6k. On Tuesday next week, a two-day FOMC meeting begins. This is the eighth – and last – meeting this year. A … Continued
With less than a month to go this year, momentum in U.S. corporate bond issuance continues. High-yield in particular is worth paying attention to. November saw issuance of $125.3 billion, made up of $97.2 billion in investment-grade and $28.1 billion … Continued
The options market continues to reflect elevated optimism. In nine of the last 12 sessions, the CBOE equity put-to-call ratio registered readings in the 0.50s. The other three were in the low 0.60s. In fact, major U.S. stock indices yesterday … Continued
Following futures positions of non-commercials are as of Nov 28, 2017. 10-year note: Currently net long 123.9k, up 12.9k. The U.S. economy is in its ninth year of recovery. Post-Great Recession, real GDP has grown at an average 2.2 percent. … Continued
Following futures positions of non-commercials are as of Nov 21, 2017. 10-year note: Currently net long 111.1k, up 36.2k. “In light of elevated asset valuations and low financial market volatility, several participants expressed concerns about a potential buildup of financial … Continued