Following futures positions of non-commercials are as of August 22, 2023. 10-year note: Currently net short 694.9k, down 52k. It was a yawner to say the least – Federal Reserve Chair Jerome Powell’s Friday speech at the annual Jackson Hole … Continued
Both large- and small-caps have failed to meaningfully build on their recent breakout. They were stopped at important spot and now risk breakout retest. From last October’s low to the July 27th high of 4607, the S&P 500 shot up … Continued
Following futures positions of non-commercials are as of Aug 1, 2023. 10-year note: Currently net short 645.2k, up 21.4k. No sooner did the 10-year treasury yield break out of 4.09 percent, which resisted rally attempts in February and early July, … Continued
Since last October’s bottom in stocks, trillions in additional wealth have been added. Prices headed north, even as earnings headed south, helping push up multiples. This also makes equity bulls, who are sitting on loads of paper profit, jittery, as … Continued
Following futures positions of non-commercials are as of July 25, 2023. 10-year note: Currently net short 623.8k, down 5.8k. This week, the Federal Reserve raised the fed funds rate by 25 basis points, to a range of 525 basis points … Continued
Following futures positions of non-commercials are as of September 27, 2022. 10-year note: Currently net short 365.2k, up 135.6k. Ae we there yet? Makes you wonder considering how the long end of the treasury yield curve has been behaving. The … Continued
Following futures positions of non-commercials are as of May 10, 2022. 10-year note: Currently net short 86k, down 61.6k. It is probable the 10-year treasury yield made an important high this week. Rates touched 3.17 percent intraday Monday before reversing … Continued
Following futures positions of non-commercials are as of November 24, 2020 (data published this Monday instead of last Friday due to Thanksgiving holiday). 10-year note: Currently net long 115k, down 37.3k. The 10-year Treasury yield (0.84 percent) has come under … Continued
Small-caps and tech continue to diverge. Post-vaccine news, longs are gravitating toward the former and leaving the latter. Amidst this, signs of fatigue are also showing up on the S&P 500, while VIX acts like it wants to rally. The … Continued
Following futures positions of non-commercials are as of November 17, 2020. 10-year note: Currently net long 152.3k, up 57.7k. Both the 50- and 200-day moving averages closed Thursday at 0.77 percent. The former is rising and the latter dropping. Friday, … Continued