Most traders on Wall Street grew up in a low-interest-rate, low-inflation environment. It is hard for them to relate to why Volcker acted the way he did in the late-‘70s/early-‘80s. Greenspan, Bernanke and Yellen operated at a time when inflation … Continued
US equities surged last week pricing in a divided government – a Democrat in the White House, Republicans in control of the Senate and Democrats of the House of Representatives. Major indices rallied right into important resistance. The focus now … Continued
Following futures positions of non-commercials are as of March 27, 2018. 10-year note: Currently net short 305.2k, down 8.1k. For the first time since mid-December last year, 10-year Treasury yields went under the 50-day moving average this week. On March … Continued
U.S. equity bulls regained momentum last week, but this also put near-term sentiment at/near complacency. Since rising to an all-time high of 2490.87 on August 8, the S&P 500 large cap index was bound by a falling trend line (Chart … Continued