Following futures positions of non-commercials are as of January 7, 2020. 10-year note: Currently net short 179.2k, down 55.5k. The 10-year Treasury yield (1.83 percent) was rejected at 1.95-1.97 percent in both November and December. The drop since found support … Continued
Following futures positions of non-commercials are as of December 31, 2019 (data was published Monday instead of last Friday due to New Year’s holiday). 10-year note: Currently net short 234.8k, down 33.9k. Last week, the 10-year T-yield (1.81 percent) essentially … Continued
It is early to declare that a trend is beginning, but last week was the first time in a while that major US equity indices were indecisive, showing early signs of fatigue. This is coming at a time when ratios … Continued
Following futures positions of non-commercials are as of December 24, 2019 (data was published Monday instead of last Friday due to Christmas holiday). 10-year note: Currently net short 268.7k, up 23.3k. Last Tuesday’s intraday high of 1.95 percent was yet … Continued
The Nasdaq rallied to yet another record high Tuesday. It is up over 16 percent since early October. Shorts are leaving, but not in droves. Since the end of September, Nasdaq short interest is down 1.8 percent, and remains elevated. … Continued
Major US equity indices continue to attract bids and are trading at fresh highs. Greed rules, with several metrics at nosebleed levels. In a seasonally favorable period, crazy can get crazier – at least that is what bulls hope. How … Continued
Following futures positions of non-commercials are as of December 17, 2019. 10-year note: Currently net short 245.3k, up 66.4k. Bond bears (on price) keep hammering on a potentially crucial level. The 10-year Treasury yield (1.92 percent) dropped to 1.43 percent … Continued
Major US equity indices posted fresh new highs Monday. For a while now, foreigners have lent a helping hand, although they at the same time have been aggressively selling US Treasury securities. Equity bulls would prefer foreigners to maintain the … Continued
Following futures positions of non-commercials are as of December 10, 2019. 10-year note: Currently net short 178.9k, down 43k. As expected, the Fed stood pat. This week’s FOMC meeting – the year’s eighth and last – left the fed funds … Continued
Two weeks after the Russell 2000 breaks out, November’s data shows big improvement in small-business profit trend. Job openings is another data point worth watching. Small-business openings currently are diverging with the national trend. The recent breakout in small-caps is … Continued