Following futures positions of non-commercials are as of August 20, 2019. 10-year note: Currently net short 401.8k, down 12.5k. The German government Wednesday sold €824 million in zero-coupon 30-year bonds, at a negative yield of 0.11 percent. It offered €2 … Continued
Following futures positions of non-commercials are as of August 13, 2019. 10-year note: Currently net short 414.3k, up 23.5k. The 10-year Treasury yield (1.54 percent) shed 20 more basis points this week. In fact, at the lows rates were down … Continued
Following futures positions of non-commercials are as of August 6, 2019. 10-year note: Currently net short 390.9k, up 7k. The 10-year Treasury yield (1.73 percent) dropped to 1.6 percent intraday Wednesday – the lowest since September 2016. July that year, … Continued
VIX just rallied to a seven-month high. At the same time, it struggled to hang on to the gains in the past couple of sessions. The recent surge has pushed it into overbought territory, which could very well be in … Continued
Stocks took it on the chin last week. Friday, major US equity indices all tested major averages – successfully. A relief is possible near term. Medium term, though, more pain probably lies ahead. Last Wednesday, the day the Fed lowered … Continued
Following futures positions of non-commercials are as of July 30, 2019. 10-year note: Currently net short 383.8k, up 3.7k. In the wake of Wednesday’s FOMC meeting in which the fed funds rate was lowered by 25 basis points but the … Continued
Following futures positions of non-commercials are as of July 23, 2019. 10-year note: Currently net short 380.2k, up 32.9k. Next Wednesday, the Fed will have eased, probably by 25 basis points to a range of 200 to 225 basis points. … Continued
Following futures positions of non-commercials are as of July 16, 2019. 10-year note: Currently net short 347.2k, up 58.4k. In its quest to justify a rate cut later this month, the Fed may be inadvertently creating a precedent that it … Continued
Following futures positions of non-commercials are as of July 9, 2019. 10-year note: Currently net short 288.8k, down 48. In the first stare down with markets since his appointment in February last year, Jerome Powell, Fed chair, blinked. In this … Continued
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