Spot gold ($1,352.10/ounce) sits at a crucial technical juncture. A breakout would send a loud and clear message. Since bottoming at $1,045.40 in December 2015 through last week’s high of $1,365.40, gold quietly rallied nearly 31 percent. Stocks did better … Continued
Following futures positions of non-commercials are as of January 23, 2018. 10-year note: Currently net short 117.9k, up 28.6k. Tuesday, a two-day FOMC meeting begins. This is the year’s first, and will be Janet Yellen’s, the outgoing chair, last. (The … Continued
Following futures positions of non-commercials are as of January 16, 2018. 10-year note: Currently net short 89.3k, down 107.6k. A Bloomberg article last week about China beginning to weigh slowing or halting purchases of U.S. Treasurys gave the bond market … Continued
Following futures positions of non-commercials are as of January 9, 2018. 10-year note: Currently net short 196.9k, up 121k. Is this the big one? The big breakout in 10-year Treasury yields, that is? The 10-year has been trapped in a … Continued
Following futures positions of non-commercials are as of January 2, 2018. 10-year note: Currently net short 75.8k, down 7.8k. It is on. Doves versus hawks. At least for now. FOMC minutes for the December 12-13 meeting highlighted the growing tension … Continued
Gold shows nice price action, just broke past $1,300/ounce, and has room to rally further, particularly if non-commercial futures traders continue to keep the faith and/or the U.S. dollar weakens further. Most recently, the yellow metal bottomed at $1,238.30 on … Continued
Following futures positions of non-commercials are as of December 26, 2017. 10-year note: Currently net short 83.7k, up 39.4k. No one said a breakout of this significance would be easy. Last week, 10-year yields closed right underneath a three-decade-old descending … Continued
Following futures positions of non-commercials are as of December 19, 2017. 10-year note: Currently net short 44.2k, down 89k. Is the big one around the corner? The big breakout, that is? Ten-year Treasury yields, at one point at 2.5 percent, … Continued
Following futures positions of non-commercials are as of December 12, 2017. 10-year note: Currently net long 44.7k, up 30.4k. The Fed and the Administration are not on the same page when it comes to expected growth in the U.S. economy. … Continued
Following futures positions of non-commercials are as of December 5, 2017. 10-year note: Currently net long 14.3k, down 109.6k. On Tuesday next week, a two-day FOMC meeting begins. This is the eighth – and last – meeting this year. A … Continued