Following futures positions of non-commercials are as of March 16, 2021. 10-year note: Currently net long 4.1k, up 50.2k. The FOMC left the benchmark rate between zero and 25 basis points this week. Also left unchanged was the asset buying … Continued
Following futures positions of non-commercials are as of March 9, 2021. 10-year note: Currently net short 46.1k, down 49.5k. The FOMC meets next week. This is the year’s second meeting. Six more remain – the scheduled ones, that is. A … Continued
Fed chair made it clear last week that things have not deteriorated enough for them to act. In this atmosphere, the 10-year rate can head toward two percent. Equities, in all probability, will not like that, even though they are … Continued
Following futures positions of non-commercials are as of March 2, 2021. 10-year note: Currently net short 95.6k, up 98.4k. Chair Jerome Powell apparently failed to calm bond-market nerves on Thursday – or at least that is how markets’ reaction would … Continued
Two months into the year, January and February have traded similarly – early strength followed by weakness in the dying sessions. Equity bulls’ inability to hold on to gains comes amidst a spike in long rates. Short rates are behaving, … Continued
Following futures positions of non-commercials are as of February 16, 2021. 10-year note: Currently net long 103.4k, up 23.9k. The 10-year treasury yield had a mini breakout this week at 1.2 percent. This was preceded by a breakout six weeks … Continued
Following futures positions of non-commercials are as of February 9, 2021. 10-year note: Currently net long 79.5k, up 20.9k. Minutes for the January 26-27 FOMC meeting – the first of eight scheduled meetings this year – will be out Wednesday. … Continued
Following futures positions of non-commercials are as of January 12, 2021. 10-year note: Currently net short 50.2k, up 77.9k. No sooner than the 10-year treasury yield rallied past one percent than several Fed officials, including Chair Jerome Powell on Thursday, … Continued
Following futures positions of non-commercials are as of January 5, 2021. 10-year note: Currently net long 27.7k, up 2.4k. After losing one percent last March, bond bears (on price) had been unable to reclaim the level. That ended Wednesday when … Continued
Following futures positions of non-commercials are as of December 8, 2020. 10-year note: Currently net long 29.2k, up 3.4k. The FOMC meets next week. The two-day meeting ends on Wednesday with a press conference by Chair Jerome Powell. This is … Continued