There is confusion in the markets. Several times this month, bulls tried to take momentum by the horns, but only to get gored, including last Friday. Bears have not had a smooth ride either. Amidst this back-and-forth action, major US … Continued
Following futures positions of non-commercials are as of August 20, 2019. 10-year note: Currently net short 401.8k, down 12.5k. The German government Wednesday sold €824 million in zero-coupon 30-year bonds, at a negative yield of 0.11 percent. It offered €2 … Continued
Tech’s role in this market needs no elaboration. Information technology makes up just north of 22 percent in the S&P 500 large cap index. Health care is second at 14 percent and financials under 13 percent. In this sense, ‘as … Continued
Following futures positions of non-commercials are as of July 30, 2019. 10-year note: Currently net short 383.8k, up 3.7k. In the wake of Wednesday’s FOMC meeting in which the fed funds rate was lowered by 25 basis points but the … Continued
Small-caps get no love, even as large-caps rally to new highs. Non-commercials’ bearish position in Russell 2000 mini-index futures is near an 11-year high. At some point in the future, these holdings can provide a tailwind to the cash, as … Continued
Following futures positions of non-commercials are as of July 16, 2019. 10-year note: Currently net short 347.2k, up 58.4k. In its quest to justify a rate cut later this month, the Fed may be inadvertently creating a precedent that it … Continued
Following futures positions of non-commercials are as of July 9, 2019. 10-year note: Currently net short 288.8k, down 48. In the first stare down with markets since his appointment in February last year, Jerome Powell, Fed chair, blinked. In this … Continued
Following futures positions of non-commercials are as of July 2, 2019. 10-year note: Currently net short 288.9k, up 7.8k. Fed Chair Jerome Powell appears before Congress this week. This comes on the heels of a strong payroll report in June. … Continued
Following futures positions of non-commercials are as of June 18, 2019. 10-year note: Currently net short 403k, up 37k. Yet another intraday low on the 10-year Treasury yield this week! Since peaking at 3.25 percent last October, there has been … Continued
Following futures positions of non-commercials are as of April 2, 2019. 10-year note: Currently net short 224.2k, up 57.7k. The 10-year Treasury rate (2.5 percent) rallied nine basis points this week. Support around the intraday low of 2.36 percent eight … Continued