Back in the week ended July 5 this year, non-commercials enthusiastically held 315,963 net longs in gold futures. That was an all-time high. These traders had been aggressively building positions since the week ended December 1 last year, when net … Continued
Following futures positions of non-commercials are as of December 13, 2016. 10-year note: With the Fed this week having raised by 25 basis points the fed funds target rate to a range of 0.5 percent to 0.75 percent, its conventional … Continued
Following futures positions of non-commercials are as of December 6, 2016. 10-year note: Regardless how Mr. Mario Draghi, ECB president, describes the €20-billion/month reduction in asset purchases beginning next March until December, it looks like tapering, walks like tapering, and … Continued
Following futures positions of non-commercials are as of November 29, 2016. 10-year note: From the July 6 (this year) all-time low of 1.34 percent to the Thursday high of 2.49 percent, the 10-year Treasury yield jumped 115 basis point in … Continued
Following futures positions of non-commercials are as of November 22, 2016. 10-year note: Like that, 10-year Treasury yields rallied north of 100 basis points in four and a half months – from the all-time low 1.34 percent on July 6 … Continued
Post-Trump victory, the Treasury yield curve has moved up as well as steepened, with the 10-year yield rising 47 basis points to 2.34 percent. Yields have risen one full point since the July 6th all-time low of 1.34 percent. Inflation … Continued
Following futures positions of non-commercials are as of November 15, 2016. 10-year note: Post-Trump victory, the bond market has swiftly priced in higher inflation. The U.S. economy is in its eighth year of expansion, although growth remains subdued. On a … Continued
Following futures positions of non-commercials are as of November 8, 2016. 10-year note: The 25-basis-point hike in the Fed funds rate last December was the first in nine-plus years. At 0.4 percent, rates are still zero-bound. Growth remains sluggish, but … Continued
Due to Veterans Day holiday, the CFTC will release the Commitment of Traders report for the week through November 8 on Monday the 14th. Thanks.
Back on October 4, spot gold collapsed 3.3 percent. The one-day decline probably owed more to technicals than to fundamentals. From the December 3rd low of $1,045.4/ounce through the July 6th high of $1,377.5, the metal rallied nearly 32 percent. … Continued