Following futures positions of non-commercials are as of Jan 20, 2026. 10-year note: Currently net short 655.6k, down 214.9k. The FOMC meets next week. In the futures market, under five percent of traders are currently pricing in a 25-basis-point cut, … Continued
Following futures positions of non-commercials are as of Jan 13, 2026. 10-year note: Currently net short 870.5k, down 45k. Non-commercials reduced net shorts in 10-year note futures by 4.9 percent this week, but they maintain a heavy bearish exposure. Yields … Continued
Following futures positions of non-commercials are as of Jan 6, 2026. 10-year note: Currently net short 915.6k, down 24.1k. Going into December’s jobs report out Friday, futures traders were extremely confident that the fed funds rate would be left unchanged … Continued
With sell-side optimism around 2026 earnings at a record high, major US equity indices are not too far away from their respective record highs. At the same time, after seven up months in succession, potentially bearish monthly candles have appeared … Continued
Following futures positions of non-commercials are as of Sep 23, 2025. 10-year note: Currently net short 844.1k, up 24.8k. The 10-year treasury yield has approached a crucial spot. It finished up five basis points this week to 4.19 percent, with … Continued
Following futures positions of non-commercials are as of Sep 16, 2025. 10-year note: Currently net short 819.3k, down 38.7k. As expected, the Federal Reserve lowered the fed funds rate by 25 basis points to a range of 400 basis points … Continued
Following futures positions of non-commercials are as of Sep 9, 2025. 10-year note: Currently net short 858k, down 10.4k. Next week, the FOMC meets. The two-day affair ends on Wednesday, and this will be the sixth meeting this year; two … Continued
Following futures positions of non-commercials are as of Sep 2, 2025. 10-year note: Currently net short 868.4k, down 15.5k. Non-farm payrolls continue to disappoint. August only produced 22,000 jobs, with June revised lower into a minus column – the first … Continued
Following futures positions of non-commercials are as of Aug 26, 2025. 10-year note: Currently net short 883.8k, down 61.7k. Unlike his first four-year term, President Donald Trump’s preoccupation with the Federal Reserve has gone up meaningfully during his second term. … Continued
Following futures positions of non-commercials are as of Aug 19, 2025. 10-year note: Currently net short 945.5k, up 3.3k. Chair Jerome Powell used Friday’s Jackson Hole speech to suggest a rate cut is coming in the next meeting, which is … Continued