Following futures positions of non-commercials are as of April 26, 2022. 10-year note: Currently net short 117.8k, down 214.5k. The FOMC meets next week. This will be the year’s third, and five more remain after this. In the March meeting, … Continued
Following futures positions of non-commercials are as of April 19, 2022. 10-year note: Currently net short 332.3k, up 32.4k. A 50-basis-point increase in the fed funds rate is pretty much sealed in the May 3-4 meeting. Jerome Powell, Federal Reserve … Continued
Following futures positions of non-commercials are as of April 12, 2022. 10-year note: Currently net short 299.9k, down 62.9k. That the 10-year treasury yield has gone parabolic in recent weeks is no exaggeration. As recently as March 1, rates tagged … Continued
Following futures positions of non-commercials are as of April 5, 2022. 10-year note: Currently net short 362.9k, down 113.7k. Minutes for the March 15-16 FOMC meeting, out Wednesday, revealed that the Federal Reserve plans to shrink its balance sheet by … Continued
In 1Q22, US corporate bond issuance was down 14.5% y/y, with high-yield collapsing 68%. This took place even as HYG, along with LQD – already under sustained pressure – are clinging on to crucial support. In the first three months … Continued
Following futures positions of non-commercials are as of March 22, 2022. 10-year note: Currently net short 263.8k, down 57.2k. At last, Jerome Powell seems to have gotten religion. Or so it seems. On Monday, the Federal Reserve chair delivered very … Continued
Following futures positions of non-commercials are as of January 18, 2022. 10-year note: Currently net short 271.4k, down 72.4k. The FOMC meets next week. This will be the year’s first scheduled meeting, and seven more remain after this. Members will … Continued
Following futures positions of non-commercials are as of January 11, 2022. 10-year note: Currently net short 343.8k, up 66.9k. Last week, the 10-year treasury yield closed right at 1.77 percent, which was the high from last March. Since that peak, … Continued
Following futures positions of non-commercials are as of January 4, 2022. 10-year note: Currently net short 276.9k, up 63.6k. The December 14-15 FOMC minutes, out Wednesday, revealed that the Fed was more determined to snatch the punch bowl away from … Continued
Following futures positions of non-commercials are as of September 21, 2021. 10-year note: Currently net long 61.2k, down 68.2k. Markets took this week’s FOMC meeting well. Stocks recovered after heavy losses in the first two sessions. Bonds sold off, with … Continued