Following a vertical two-year run, gold just had a very volatile couple of weeks. Bulls failed to hang on to a fresh high $5,608 posted on 29 January, even as bears pushed it all the way down to $4,405 on … Continued
Following futures positions of non-commercials are as of Feb 3, 2026. 10-year note: Currently net short 729.4k, up 3.3k. There is a lot of talk around the nominee to replace Chair Jerome Powell regarding the balance sheet of the Federal … Continued
Following futures positions of non-commercials are as of Jan 27, 2026. 10-year note: Currently net short 726.2k, up 70.5k. As expected, the fed funds rate was left unchanged at this week’s FOMC meeting at a range of 350 basis points … 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
Following futures positions of non-commercials are as of Jan 13, 2026. 10-year note: Currently net short 870.5k, down 45k. Non-commercials reduced net shorts in 10-year note futures by 4.9 percent this week, but they maintain a heavy bearish exposure. Yields … Continued
Following futures positions of non-commercials are as of Jan 6, 2026. 10-year note: Currently net short 915.6k, down 24.1k. Going into December’s jobs report out Friday, futures traders were extremely confident that the fed funds rate would be left unchanged … Continued
Following futures positions of non-commercials are as of Sep 23, 2025. 10-year note: Currently net short 844.1k, up 24.8k. The 10-year treasury yield has approached a crucial spot. It finished up five basis points this week to 4.19 percent, with … Continued
Following futures positions of non-commercials are as of Sep 16, 2025. 10-year note: Currently net short 819.3k, down 38.7k. As expected, the Federal Reserve lowered the fed funds rate by 25 basis points to a range of 400 basis points … 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
Following futures positions of non-commercials are as of Sep 2, 2025. 10-year note: Currently net short 868.4k, down 15.5k. Non-farm payrolls continue to disappoint. August only produced 22,000 jobs, with June revised lower into a minus column – the first … Continued