Following futures positions of non-commercials are as of Nov 21, 2017. 10-year note: Currently net long 111.1k, up 36.2k. “In light of elevated asset valuations and low financial market volatility, several participants expressed concerns about a potential buildup of financial … Continued
Small-caps have sprung back to life in recent sessions. Since peaking at 1514.94 on October 5 through the intraday low of 1454.17 last Wednesday, the Russell 2000 small cap index (1503.40) shed four percent. It was a slow drip-drip move … Continued
Following futures positions of non-commercials are as of Nov 14, 2017. 10-year note: Currently net long 74.8k, up 24.8k. The dichotomy continues. At 1.73 percent, two-year T-yields, which reflect markets’ expectations for the Fed’s monetary policy, are the highest since … Continued
Following futures positions of non-commercials are as of Nov 7, 2017. 10-year note: Currently net long 50.1k, up 47.3k. It was yet another instance of 10-year Treasury yields wilting well before even getting close to 2.6 percent. Are they sending … Continued
Following futures positions of non-commercials are as of Oct 31, 2017. 10-year note: Currently net long 2.7k, down 150.9k. So Jerome Powell, current Fed governor, it is – the next chair. He is supposedly a dove – along the lines … Continued
If small-caps are a gauge of investor mood for risk- on and-off, then they are subtly beginning to lean toward risk-off. Of the four major U.S. indices – the S&P 500 large cap index, Dow Industrials, Nasdaq composite, and the … Continued
Following futures positions of non-commercials are as of Oct 24, 2017. 10-year note: Currently net long 153.6k, up 47.3k. FOMC meets next week. The October 31-November 1 meeting is the seventh this year, with the eighth, and final, scheduled for … Continued
U.S. Treasury yields have come under upward pressure for nearly a month and a half, although the increase has not been uniform across the curve. The yield curve (spread between the two- and 10-year) last Friday was only 79 basis … Continued
Following futures positions of non-commercials are as of Oct 17, 2017. 10-year note: Currently net long 106.3k, down 86.3k. If Politico is to be believed, President Trump is leaning toward Jerome Powell, Fed governor, for the next Federal Reserve chair. … Continued
Amidst persistent volatility suppression, rays of hope are emerging for volatility bulls. From their perspective, spot VIX is showing some encouraging action. VIX remains oversold on nearly all timeframe. It has remained that way for a while. In less than … Continued