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
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
Following futures positions of non-commercials are as of November 1, 2016. 10-year note: The 10-year yield (cash) has been trapped in a descending channel for the past three decades, having peaked at 15.8 percent in September 1981. From the July … Continued
The following are futures positions of non-commercials as of October 25, 2016. 10-year note: Rates are rising. From 1.34 percent on July 6 this year to 1.88 percent on Friday, the 10-year Treasury yield has come a long way. In … Continued
The following are futures positions of non-commercials as of October 18, 2016. 10-year note: Both China and Japan reduced their holdings of Treasury notes and bonds in August – the former by a whopping $33.7 billion and the latter by … Continued
The following are futures positions of non-commercials as of October 11, 2016. 10-year note: In late September, Janet Yellen, Fed chair, said the bank might be able to help the U.S. economy in a downturn if it could buy stocks … Continued
The following are futures positions of non-commercials as of October 4, 2016. 10-year note: Bloomberg ran a story on Tuesday saying the ECB would probably gradually wind down bond purchases before the end of quantitative easing, and that it may … Continued