Following futures positions of non-commercials are as of June 27, 2023. 10-year note: Currently net short 801k, up 51k. FOMC minutes for the June 13-14 meeting are due out Wednesday. In that meeting, after raising the fed funds rate uninterrupted … Continued
Following futures positions of non-commercials are as of June 20, 2023. 10-year note: Currently net short 750k, up 58.1k. The Bank of England’s unexpected 50-basis-point hike on Thursday to five percent highlights central bankers’ increasing frustration with inflation that is … Continued
Following futures positions of non-commercials are as of June 13, 2023. 10-year note: Currently net short 691.9k, down 61.8k. Non-commercials reduced net shorts in 10-year note futures for the second week in a row. In the last couple of weeks, … Continued
After a rip-roaring rally since last October’s bottom, major US indices stopped at what could turn out to be make-or-break resistance. Sentiment is not frothy but elevated enough to cause unwinding, and multiples have only expanded since the end of … Continued
Following futures positions of non-commercials are as of June 6, 2023. 10-year note: Currently net short 753.7k, down 96.7k. The FOMC begins a two-day meeting on Tuesday. After raising the fed funds rate by 500 basis points since March last … Continued
Following futures positions of non-commercials are as of May 30, 2023. 10-year note: Currently net short 850.4k, up 78.8k. Non-commercials are hanging on to a losing trade. The 10-year treasury yield retreated last October after touching 4.33 percent. Just a … Continued
Following futures positions of non-commercials are as of May 23, 2023. 10-year note: Currently net short 771.6k, up 79.2k. It took them a while, but futures traders have at long last stopped wasting money expecting an improbable outcome. Until last … Continued
Following futures positions of non-commercials are as of May 16, 2023. 10-year note: Currently net short 692.4k, down 39.3k. FOMC minutes for the May 2-3 meeting are due out next Wednesday. The fed funds rate was raised by 25 basis … Continued
Following futures positions of non-commercials are as of May 9, 2023. 10-year note: Currently net short 731.7k, down 17.4k. This week, April’s CPI (consumer price index) and PPI (producer price index) were published. Both showed continued decelerating trend in inflation … Continued
Following futures positions of non-commercials are as of May 2, 2023. 10-year note: Currently net short 749.1k, up 8.9k. The Federal Reserve’s job is not getting any easier. On Wednesday, post-FOMC meeting, Chair Jerome Powell dropped hints that they were … Continued