Following futures positions of non-commercials are as of June 16, 2020. 10-year note: Currently net short 10.9k, down 13.1k. Foreigners are aggressively getting out of the US sovereign bond market. In March and April, they sold $475.6 billion in Treasury … Continued
The S&P 500 as well as the Nasdaq 100 stalled at 61.8 percent Fibonacci retracement of their February-March decline, before rallying past the golden ratio. The Russell 2000 achieved that feat last week and immediately came under pressure. If it … Continued
Following futures positions of non-commercials are as of May 26, 2020. 10-year note: Currently net short 38.1k, down 55.1k. The 10-year treasury yield (0.65 percent) has essentially gone sideways for nearly three months now. This was at a time when … Continued
Major US indices experienced minor reversals Tuesday – the Nasdaq 100 in particular. It does not matter if growth lags or leads value. If the top five tech stocks weaken, they will have adversely impacted all the major indices. How … Continued
Following futures positions of non-commercials are as of February 11, 2020. 10-year note: Currently net short 398.9k, up 40k. The Fed for all intents and purposes has been preparing the markets for more liquidity to come. Since late September last … Continued
Following futures positions of non-commercials are as of February 4, 2020. 10-year note: Currently net short 358.9k, up 88.5k. One more week of additional liquidity from the Fed! In the week to Wednesday, SOMA (System Open Market Account) holdings went … Continued
Following futures positions of non-commercials are as of October 15, 2019. 10-year note: Currently net short 99.7k, down 22.9k. Most US economic data out this week continued to point to sluggish activity. Retail sales in September fell 0.25 percent month-over-month … Continued