Following futures positions of non-commercials are as of January 23, 2024. 10-year note: Currently net short 784.7k, down 104.7k. Next week, the FOMC meets. This is the first meeting this year, and seven more – the scheduled ones – remain. … Continued
Following futures positions of non-commercials are as of January 16, 2024. 10-year note: Currently net short 889.4k, up 102.4k. At an annualized $709.9 billion, December’s retail sales were strong, better than expected and set a record. January’s preliminary count showed … Continued
The December 13th Fed pivot lit a fire under risk assets, leading equity shorts to cover and ETF inflows to jump. Flows, however, began to turn negative as the new year began. This does not help the equity bulls, even … Continued
Following futures positions of non-commercials are as of January 9, 2024. 10-year note: Currently net short 787k, down 45.6k. The 200-day moving average (4.06 percent), which coincides with horizontal resistance at 4.1 percent, is standing like a rock. Since this … Continued
Following futures positions of non-commercials are as of January 2, 2024. 10-year note: Currently net short 832.7k, up 27.7k. Amidst signs that the 10-year treasury yield is ready for a reflex rally, non-commercials’ net shorts in 10-year note futures went … Continued
Following futures positions of non-commercials are as of December 26, 2023. 10-year note: Currently net short 805k, up 117.4k. Non-commercials are not pulling back. Far from it! Their holdings of net shorts in 10-year note futures went up another 17.1 … Continued
Following futures positions of non-commercials are as of December 19, 2023. 10-year note: Currently net short 687.6k, up 130.6k. In the last week of 2022, non-commercials were net short 344,209 contracts in 10-year note futures. This week, they held 687,572 … Continued
Following futures positions of non-commercials are as of December 12, 2023. 10-year note: Currently net short 556.9k, down 79.5k. By making a sharp dovish turn, the Federal Reserve has let loose animal spirits in risk-on assets. This week’s FOMC meeting … Continued
Following futures positions of non-commercials are as of December 5, 2023. 10-year note: Currently net short 636.5k, down 48.9k. The FOMC meets next Tuesday-Wednesday. This will be the year’s last meeting. They are expected to do nothing. The last hike … Continued
Following futures positions of non-commercials are as of November 28, 2023. 10-year note: Currently net short 685.4k, up 27.2k. Non-commercials do not seem ready to let go of their bearish bias just yet. This week, their holdings of net shorts … Continued