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
Following futures positions of non-commercials are as of March 10, 2026. 10-year note: Currently net short 534.9k, down 119.6k. In the 12 months to January, headline and core CPI rose 2.4 percent and 2.5 percent respectively; headline and core PCE … Continued
Following futures positions of non-commercials are as of Jan 20, 2026. 10-year note: Currently net short 655.6k, down 214.9k. The FOMC meets next week. In the futures market, under five percent of traders are currently pricing in a 25-basis-point cut, … Continued
After back-to-back 20-percent gains in 2024 and 2023, the S&P 500 is up another 12 percent this year. Its market cap is near $59 trillion. Several valuation multiples are either elevated or at fresh records, even as households’ equity allocation … Continued
Following futures positions of non-commercials are as of Sep 9, 2025. 10-year note: Currently net short 858k, down 10.4k. Next week, the FOMC meets. The two-day affair ends on Wednesday, and this will be the sixth meeting this year; two … Continued
The jobs market has meaningfully decelerated the last four months. In the futures market, traders are pricing in six cuts in the next 15 months. The major equity indices are sitting on tons of gains from the April lows; concurrently, … Continued