As of last Friday, per S&P Dow Jones Indices estimates, 1Q17 sales of S&P 500 companies were $293.82/share. This amounts to a decline of 2.4 percent quarter-over-quarter, but year-over-year sales were up 7.2 percent. This was the fastest quarterly growth … Continued
Except for the Nasdaq composite, major U.S. indices – the S&P 500 large cap index, Russell 2000 small cap index, Dow Industrials, and the NYSE composite – all had a down March. This did not stop NYSE margin debt from … Continued
Following futures positions of non-commercials are as of April 25, 2017. 10-year note: Currently net long 214.6k, up 255.9k. Ten-year Treasury yields did indeed test support-turned-resistance at 2.31 percent this week. In fact, they rose all the way to 2.35 … Continued
Breakouts galore! The three U.S. equity indices discussed here all broke out this week in one form or another. The Russell 2000 small cap index and the Nasdaq composite rallied to fresh new highs, even as the S&P 500 large … Continued
The Russell 2000 small cap index once again sits right underneath the upper bound of a five-month range. From the 4th through the 20th in November last year, the Russell 2000 jumped 16.5 percent to 1247.2, rallying every single session … Continued
Following futures positions of non-commercials are as of April 18, 2017. 10-year note: Currently net short 41.3k, down 23.2k. After dropping last week out of a five-month, 2.62 percent-2.31 percent range, 10-year Treasury yields (2.24 percent) proceeded to drop to … Continued
U.S. banks’ commercial and industrial loans continue to decelerate. March, out last Friday, came in at a seasonally adjusted annual rate of $2.08 trillion, down $14.7 billion month-over-month. This was the second consecutive m/m decline – and fourth in last … Continued
Last Wednesday, speaking to the Wall Street Journal President Trump said that the dollar was getting too strong and that it would eventually hurt the U.S. economy. In the past, he, as well as Treasury Secretary Steven Mnuchin, have made … Continued
Following futures positions of non-commercials are as of April 11, 2017. 10-year note: Currently net short 64.5k, up 8.8k. Ten-year Treasury yields (2.23 percent) are breaking down. Shortly after post-election backup in yields last November, the 10-year began to so … Continued
Last week, bond bulls wasted a big opportunity. Sort of. Intraday Friday, 10-year Treasury yields broke down, but only to recover big by close. On December 15 last year, yields hit 2.62 percent before retreating. This resistance goes back to … Continued