Following futures positions of non-commercials are as of July 17, 2018. 10-year note: Currently net short 469.1k, up 30k. Speaking to Congress in his Humphrey-Hawkins testimony this week, Jerome Powell, Fed chair, downplayed the risks posed by debt, saying nothing … Continued
As 2Q earnings season got underway, the S&P 500 large cap index broke out of 2800. If it were to rally toward its late-January all-time high, it has to first win over resistance around 2840. The S&P 500 (2809.55) faced … Continued
Following futures positions of non-commercials are as of July 10, 2018. 10-year note: Currently net short 439.1k, down 60.9k. News this week that the Trump administration planned to impose tariffs on another $200 billion worth of imports from China resulted … Continued
Following futures positions of non-commercials are as of July 3, 2018. 10-year note: Currently net short 500.1k, up 144.8k. Minutes for the June 12-13 FOMC meeting were released last Thursday. The Fed raised interest rates in that meeting. This was … Continued
Following futures positions of non-commercials are as of June 26, 2018. 10-year note: Currently net short 355.3k, down 4.1k. Core PCE – the Fed’s favorite measure of consumer inflation – rose 1.96 percent year-over-year in May. This is as good … Continued
Following futures positions of non-commercials are as of June 19, 2018. 10-year note: Currently net short 359.5k, up 23.5k. Volatility remains suppressed – pretty much across the investing landscape. In US equities, both small-caps and tech – considered risk-on – … Continued
Following futures positions of non-commercials are as of June 12, 2018. 10-year note: Currently net short 336k, down 61.6k. With this week’s 25-basis-point raise, the fed funds rate now stands at 175-200 basis points, up 175 basis points since December … Continued
Following futures positions of non-commercials are as of June 5, 2018. 10-year note: Currently net short 397.5k, down 73.5k. The FOMC meets next week. It is this year’s fourth meeting, and four more remain after this. The fed funds rate … Continued
Following futures positions of non-commercials are as of May 29, 2018. 10-year note: Currently net short 471.1k, up 112.4k. “When the pendulum swings too far in one direction it will go back,” Supreme Court Justice Ruth Bader Ginsburg once said. … Continued
Following futures positions of non-commercials are as of May 22, 2018. 10-year note: Currently net short 358.6k, down 23.3k. Ten-year Treasury yields (2.93 percent) bottomed intraday at 2.72 percent on April 2, then quickly rose to 3.12 percent on May … Continued