Following futures positions of non-commercials are as of January 10, 2023. 10-year note: Currently net short 411.4k, up 27.8k. Federal Reserve Chair Jerome Powell has his hands full. He wants to slow down the US economy to bring inflation under … Continued
Following futures positions of non-commercials are as of January 6, 2023. 10-year note: Currently net short 383.6k, up 39.4k. FOMC minutes for the December 13-14 meeting, out Wednesday, essentially repeated what the post-meeting statement and/or Chair Jerome Powell said in … Continued
Following futures positions of non-commercials are as of December 27, 2022. 10-year note: Currently net short 344.2k, up 27.3k. FOMC minutes for the December 13-14 meeting are due out next Wednesday. The fed funds rate was raised by 50 basis … Continued
Following futures positions of non-commercials are as of December 20, 2022. 10-year note: Currently net short 316.9k, down 59.5k. The Bank of Japan, which began to use its balance sheet as a policy tool much earlier than its peers in … Continued
Following futures positions of non-commercials are as of December 13, 2022. 10-year note: Currently net short 376.4k, up 7.2k. “Don’t fight the Fed” is an oft-quoted phrase in financial markets. When post-2008 financial crisis the Federal Reserve aggressively expanded its … Continued
Following futures positions of non-commercials are as of December 6, 2022. 10-year note: Currently net short 369.2k, up 72.4k. The FOMC meets next week. The day the two-day meeting begins, the Bureau of Labor Statistics will report November’s consumer price … Continued
Following futures positions of non-commercials are as of November 29, 2022. 10-year note: Currently net short 296.8k, down 24.5k. Markets and the Federal Reserve are talking past each other. Chair Jerome Powell’s Wednesday speech was interpreted as dovish – probably … Continued
Following futures positions of non-commercials are as of November 22, 2022. 10-year note: Currently net short 321.3k, down 21.8k. Markets and FOMC hawks are on diverging paths. In the futures market, traders expect the fed funds rate to peak just … Continued
Following futures positions of non-commercials are as of November 15, 2022. 10-year note: Currently net short 343k, up 60k. FOMC minutes for the November 1-2 meeting are due out next Wednesday. The fed funds rate was raised by 75 basis … Continued
Following futures positions of non-commercials are as of November 8, 2022. 10-year note: Currently net short 283.1k, down 15.3k. FOMC hawks and doves are getting ready for a duel. Last Thursday, October’s CPI report showed headline and core consumer prices … Continued