Following futures positions of non-commercials are as of Feb 24, 2026. 10-year note: Currently net short 774k, down 103.8k. ISM manufacturing activity in January entered expansion territory for the first time in 11 months. The job market could be stronger, … Continued
Following futures positions of non-commercials are as of Feb 17, 2026. 10-year note: Currently net short 877.9k, up 64.8k. On Friday, the day the Supreme Court struck down President Donald Trump’s blanket tariffs in a 6-3 vote, the 10-year treasury … Continued
Following futures positions of non-commercials are as of Feb 10, 2026. 10-year note: Currently net short 813k, up 83.6k. Minutes of the January 27-28 FOMC meeting will be out Wednesday. The fed funds rate was left unchanged at that meeting … Continued
Following futures positions of non-commercials are as of Feb 3, 2026. 10-year note: Currently net short 729.4k, up 3.3k. There is a lot of talk around the nominee to replace Chair Jerome Powell regarding the balance sheet of the Federal … Continued
Following futures positions of non-commercials are as of Jan 27, 2026. 10-year note: Currently net short 726.2k, up 70.5k. As expected, the fed funds rate was left unchanged at this week’s FOMC meeting at a range of 350 basis points … Continued
Following futures positions of non-commercials are as of Jan 20, 2026. 10-year note: Currently net short 655.6k, down 214.9k. The FOMC meets next week. In the futures market, under five percent of traders are currently pricing in a 25-basis-point cut, … Continued
Following futures positions of non-commercials are as of Jan 13, 2026. 10-year note: Currently net short 870.5k, down 45k. Non-commercials reduced net shorts in 10-year note futures by 4.9 percent this week, but they maintain a heavy bearish exposure. Yields … Continued
Following futures positions of non-commercials are as of Jan 6, 2026. 10-year note: Currently net short 915.6k, down 24.1k. Going into December’s jobs report out Friday, futures traders were extremely confident that the fed funds rate would be left unchanged … Continued
In a seasonally favorable period, US equity indices are rallying but with hesitancy, with small-caps and tech struggling to build on most recent momentum. This can change if VIX breaches eight-year trendline support. As of the 16th this month, non-commercials, … Continued
Ahead of this week’s FOMC meeting, the major equity indices last week all rallied toward their October highs, even as short-term indicators got further pushed into overbought territory. The meeting likely becomes a sell-the-news phenomenon. The Russell 2000 finished up … Continued