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 June 11, 2019. 10-year note: Currently net short 366k, down 101.7k. Tuesday’s intraday high of 2.17 percent on the 10-year Treasury yield predictably attracted bond bulls. There was gap-down resistance from May … Continued
Following futures positions of non-commercials are as of May 14, 2019. 10-year note: Currently net short 352.8k, up 22.3k. Last October, the 10-year Treasury yield (2.39 percent) peaked at 3.25 percent before coming under sustained pressure. It bottomed at 2.36 … Continued
Here is a brief review of period-over-period change in short interest in the April 16-30 period in 10 S&P 500 sectors. XLB (SPDR materials ETF) Since peaking on April 17 at 58.50, XLB (54.40) has been down for four straight … Continued
Following futures positions of non-commercials are as of April 23, 2019. 10-year note: Currently net short 323.8k, up 48.1k. After getting rejected at 2.61 percent Wednesday last week, the 10-year Treasury yield (2.51 percent) went after that level again this … Continued
Here is a brief review of period-over-period change in short interest in the April 1-15 period in 10 S&P 500 sectors. XLB (SPDR materials ETF) The breakout early this month just north of 56 is still intact, although a retest … Continued
There was a massive drop in money-market assets last week. This is a potential green shoot should this continue, although bulls could not quite cash in on it last week. The mother of all potential green shoots – foreigners – … Continued
Following futures positions of non-commercials are as of April 16, 2019. 10-year note: Currently net short 275.7k, up 14.1k. The support-turned-resistance at 2.62 percent was tested – unsuccessfully – Wednesday when the 10-year yield (2.56 percent) rallied to 2.61 percent. … Continued
The 10-year T-yield not only lost a rising trend line from July 2016 but also decade-old support at 2.62 percent. TLT has been on a tear, but is overbought; digestion of the recent gains is the path of least resistance. … Continued