The following are futures positions of non-commercials as of February 23, 2016. Change is week-over-week. 10-year note: Negative interest rates have suddenly become the topic du jour. Last month, Japan waded into negative interest rate policy (NIRP). This was totally … Continued
The following are futures positions of non-commercials as of February 16, 2016. Change is week-over-week. 10-year note: Global GDP will only expand at three percent this year. Says the OECD – the latest body to cut growth forecast this year. … Continued
The following are futures positions of non-commercials as of February 9, 2016. Change is week-over-week. 10-year note: On June 5, 2014, the ECB cut the deposit rate for the euro zone’s commercial banks to minus 0.1 percent from zero. It … Continued
The chart below has fodder for both bulls and bears. At least going back to the last three decades – encompassing three recessions, including Great Recession – there have been five occasions in which the spot West Texas Intermediate crude … Continued
The following are futures positions of non-commercials as of February 2, 2016. Change is week-over-week. 10-year note: There you go! Again. Less than three months after instituting the first rate hike in nine years, Fed officials are behaving as if … Continued
Between the January 20th intra-day low of $181.02 and the February 1st high of $194.58, SPY, the SPDR S&P 500 ETF, rallied 7.5 percent… in nine sessions. Too much too fast? Probably. That said, this was preceded by a nearly … Continued
To say that energy stocks are back in favor will be an exaggeration, but they have perked up of late. Off the January 20th intra-day low, XLE, the SPDR Energy ETF, has rallied north of 16 percent. That is in … Continued
The following are futures positions of non-commercials as of January 26, 2016. Change is week-over-week. 10-year note: Two important developments took place this week in central banking. First, the Fed. This week’s FOMC meeting was a non-event. No interest-rate decision … Continued
The following are futures positions of non-commercials as of January 19, 2016. Change is week-over-week. 10-year note: The International Monetary Fund lowers – again – its outlook for global economic growth this year. Warning of bumpier rides, especially in the … Continued
The following are futures positions of non-commercials as of January 12, 2016. Change is week-over-week. 10-year note: With crude oil tanking the way it has, it is worth taking note that oil does correlate with inflation expectations. Already, the 10-year … Continued