Following futures positions of non-commercials are as of October 27, 2026. 10-year note: Currently net short 981.5k, up 17.2k. The FOMC (Federal Open Market Committee) this week delivered what can be described as a hawkish hold, leaving the fed funds … Continued
As rates are expected to be left unchanged in this week’s FOMC meeting, inflation expectations for next year have firmed up a tad. Rates on the long end of the curve are near crucial support after reaching multi-year highs, even … Continued
Following futures positions of non-commercials are as of October 20, 2026. 10-year note: Currently net short 964.3k, down 23.8k. The FOMC (Federal Open Market Committee) meets next week. The policy-making body is meeting after having unanimously raised the fed funds … Continued
The FOMC has the green signal from both jobs and inflation to tighten policy this week. The major equity indices on Friday – the day August’s CPI was published – behaved as if all this was priced in, which we … Continued
Following futures positions of non-commercials are as of September 8, 2026. 10-year note: Currently net short 834.8k, down 74.5k. Last week, August’s much-better-than-expected jobs report – creating 162,000 non-farm jobs coupled with an upward revision for June and July – … Continued
Following futures positions of non-commercials are as of July 28, 2026. 10-year note: Currently net short 876.1k, down 3.6k. Markets are having a tough time adjusting to a new Federal Reserve chair. As head of the central bank starting May … Continued
Following futures positions of non-commercials are as of July 21, 2026. 10-year note: Currently net short 879.7k, up 48k. The FOMC (Federal Open Market Committee) meets next week (28-29), and this will be the second meeting chaired by newly appointed … Continued
Following futures positions of non-commercials are as of July 14, 2026. 10-year note: Currently net short 831.7k, up 17.4k. The FOMC meets in 10 days (July 28-29), and the ground may be shifting toward a point where hawkish members begin … Continued
Following futures positions of non-commercials are as of June 9, 2026. 10-year note: Currently net short 863.8k, up 34.2k. Newly appointed Federal Reserve Chair Kevin Warsh will be chairing an FOMC meeting for the first time next week; the two-day … Continued
Following futures positions of non-commercials are as of March 17, 2026. 10-year note: Currently net short 597.9k, up 63k. The FOMC (Federal Open Market Committee) held rates as expected. The fed funds rate was left unchanged at a range of … Continued