The lack of volatility in volatility is once again giving rise to the phrase ‘it is different this time”. If past is any guide, it seldom is. Spot VIX just created a record. VIX goes back to January 1990. In … Continued
Following futures positions of non-commercials are as of July 18, 2017. 10-year note: Currently net long 282.3k, up 25.3k. Through Wednesday, $1.1 billion moved into TLT (iShares 20+year Treasury bond ETF) this month (courtesy of ETF.com). In late April, non-commercials … Continued
Following futures positions of non-commercials are as of July 11, 2017. 10-year note: Currently net long 257k, down 5.9k. On Tuesday, markets interpreted Fed Chair Janet Yellen’s Humphrey Hawkins testimony as dovish. Ten-year T-yields fell four basis points to 2.33 … Continued
Following futures positions of non-commercials are as of July 3, 2017. 10-year note: Currently net long 263k, down 39.1k. The speed by which long rates rose the past couple of weeks took many by surprise. Intraday between June 26 and … Continued
Following futures positions of non-commercials are as of June 27, 2017. 10-year note: Currently net long 302.1k, down 43.1k. Rising asset prices were once again a talk of the Fed town. On Tuesday, Janet Yellen, Fed chair, Stanley Fischer, vice-chair, … Continued
Dips continue to get bought, even as volatility struggles to hold on to gains. On the S&P 500 large cap index, bulls forced a break out of 2400 five weeks ago. Just a few days afterwards, the breakout was defended … Continued
Following futures positions of non-commercials are as of June 20, 2017. 10-year note: Currently net long 345.2k, up 71.2k. Last week, 10-year T-yields lost – albeit ever so slightly – a rising trend line from last July. Back then, yields … Continued
Following futures positions of non-commercials are as of June 13, 2017. 10-year note: Currently net long 274k, up 61.9k. Market reaction to the FOMC decision Wednesday smacked of confusion, to say the least. As expected, the Fed raised the fed … Continued
Last Friday sent shivers down U.S. equity bulls’ spine. Sort of. The rout in tech stocks in particular was unsettling. After rising to a new all-time high of 5897.69, the Nasdaq 100 index lost 2.4 percent Friday. Intraday, it was … Continued
Following futures positions of non-commercials are as of June 6, 2017. 10-year note: Currently net long 212.1k, down 46.1k. The Fed is all set to hike next week. Futures are pricing in 99.6-percent odds of a 25-basis-point increase. This will … Continued