Following futures positions of non-commercials are as of September 20, 2022. 10-year note: Currently net short 229.6k, down 123.3k. Hope springs eternal. One cannot help but think of this phrase considering how risk assets reacted to this week’s FOMC action. … Continued
Following futures positions of non-commercials are as of May 3, 2022. 10-year note: Currently net short 147.5k, up 29.7k. “Inflation is much too high and we understand the hardship it is causing, and we are moving expeditiously to bring it … Continued
Following futures positions of non-commercials are as of April 26, 2022. 10-year note: Currently net short 117.8k, down 214.5k. The FOMC meets next week. This will be the year’s third, and five more remain after this. In the March meeting, … Continued
For the second time in five weeks, the S&P 500 charted out a bullish weekly hammer. Sentiment readings are suppressed, although non-commercials are at risk of being too bullish. Near-term, the path of least resistance is up – magnitude and … Continued
Following futures positions of non-commercials are as of February 22, 2022. 10-year note: Currently net short 285.1k, up 111k. After back-to-back weekly spinning tops in 10-year treasury rates in the last two weeks, bond bears (on price) defended 1.86 percent … Continued
Following futures positions of non-commercials are as of February 8, 2022. 10-year note: Currently net short 201.9k, down 73k. The minutes for the January 25-26 meeting are scheduled for next Wednesday. This was the year’s first FOMC meeting, during which … Continued
Following futures positions of non-commercials are as of February 1, 2022. 10-year note: Currently net short 274.9k, up 10.2k. Last Wednesday when the FOMC concluded its meeting and Fed Chair Jerome Powell announced there was “quite a bit of room” … Continued
VIX flashed a spike reversal last week. If history repeats itself, this probably means downward pressure on volatility, and higher stock prices. This is near term. Medium- to long-term, it will take time to heal the technical damage inflicted this … Continued
Following futures positions of non-commercials are as of January 25, 2022. 10-year note: Currently net short 264.7k, down 6.8k. Jerome Powell, Fed chairman, has a task at hand – to bring inflation, the likes of which has not been seen … Continued
Major US equity indices have a rough start to 2022. From their recent highs to Monday’s lows, they have all suffered double-digit percent declines, with small-caps tumbling more than 20 percent. Amidst this rout, both Monday and Tuesday produced potentially … Continued