Major equity indices had a good week last week. Stocks are currently in the midst of many crosscurrents, not to mention inflation, aggressive monetary policy and several extended metrics. Even though they have broken out of, or are near, important … Continued
Following futures positions of non-commercials are as of June 22, 2021. 10-year note: Currently net short 2.3k, up 36.6k. Doves have won – for now. In the wake of a slightly hawkish tilt in last week’s FOMC meeting in which … Continued
Following futures positions of non-commercials are as of June 15, 2021. 10-year note: Currently net long 34.3k, down 139.1k. Last week’s FOMC meeting pulled a surprise on markets. Members brought forward their projections for interest rate hikes into 2023, with … Continued
Following futures positions of non-commercials are as of June 1, 2021. 10-year note: Currently net long 54.8k, down 49.6k. In all likelihood, a trial balloon was floated this week. On Wednesday, Patrick Harker, the Philadelphia Fed president who becomes a … Continued
Following futures positions of non-commercials are as of May 4, 2021. 10-year note: Currently net short 7.2k, up 63k. Treasury Secretary Janet Yellen stated on Tuesday that “it may be that interest rates will have to rise somewhat to make … Continued
Following futures positions of non-commercials are as of April 27, 2021. 10-year note: Currently net long 55.8k, up 40.2k. As expected, nothing much of substance came out of the FOMC meeting this week. The fed funds rate was left untouched … Continued
After persistently remaining elevated for several weeks, investor sentiment is coming under pressure a little. Assuming institutions began distributing, retail would not be able to mop up all the supply. Record margin debt then becomes front and center. Equity bulls … Continued
Following futures positions of non-commercials are as of October 6, 2020. 10-year note: Currently net long 69.5k, down 59.1k. The 30-year Treasury yield (1.57 percent) this week broke through its 200-day moving average (1.55 percent), having taken out the 50-day … Continued
Following futures positions of non-commercials are as of September 15, 2020. 10-year note: Currently net long 14.8k, up 5.3k. The Fed Wednesday said rates will stay zero-bound through the end of 2023. The fed funds rate in March was lowered … Continued
Following futures positions of non-commercials are as of September 8, 2020. 10-year note: Currently net long 9.5k, up 23k. The FOMC meets this week. After the Tuesday-Wednesday meeting, two more remain this year – November 4-5 and December 15-16. As … Continued