Following futures positions of non-commercials are as of May 12, 2020. 10-year note: Currently net short 151.5k, up 9.2k. On Wednesday, Jerome Powell, Fed chair, provided a gloomy view of the economy, saying the nation was experiencing an economic hit … Continued
Following futures positions of non-commercials are as of May 5, 2020. 10-year note: Currently net short 142.3k, up 92.8k. On March 9th intraday, the 10-year Treasury yield made an all-time low of 0.4 percent. On February 6th, yields tagged 1.67 … Continued
Following futures positions of non-commercials are as of April 28, 2020. 10-year note: Currently net short 49.4k, up 15.3k. In the week ended February 11th, non-commercials held 398,919 net shorts in 10-year note futures. On the 12th that month, the … Continued
Following futures positions of non-commercials are as of April 21, 2020. 10-year note: Currently net short 34.1k, down 36.7k. The FOMC meets next week. A two-day meeting begins Tuesday. This comes after March’s hectic schedule which included two unscheduled meetings. … Continued
Following futures positions of non-commercials are as of April 14, 2020. 10-year note: Currently net short 70.8k, up 9.8k. The Fed is on a mission to provide a backstop to a whole host of assets. Here is its report card … Continued
Following futures positions of non-commercials are as of April 7, 2020. 10-year note: Currently net short 61k, up 8k. The Fed continues to spread its policy tentacles. During the financial crisis of 2007-2008, it began to aggressively purchase Treasury securities … Continued
Following futures positions of non-commercials are as of March 31, 2020. 10-year note: Currently net short 53k, down 159k. In the week to Wednesday, SOMA (System Open Market Account) holdings went up another $432.2 billion to $4.77 trillion – a … Continued
Following futures positions of non-commercials are as of March 24, 2020. 10-year note: Currently net short 212k, down 39.1k. Monday, the Fed went all in – essentially. It now has an open-ended QE program in place. There is no set … Continued
The announcement of QE4 last week failed to stabilize stocks. This is unlike how they behaved during QE1/2/3. Fear rules. Just a month ago, greed did. Sentiment will reverse. Last week, major U.S. equity indices were once again slammed. Even … Continued
Following futures positions of non-commercials are as of March 17, 2020. 10-year note: Currently net short 251.1k, up 36.5k. On Sunday, while cutting the fed funds rate by 100 basis points to zero-bound, the Fed also committed to purchase $500 … Continued