Following futures positions of non-commercials are as of August 3, 2021. 10-year note: Currently net long 87.7k, down 76.8k. A total of 5.7 million and counting. That is the number of non-farm jobs needed to match the pre-pandemic high of … Continued
Following futures positions of non-commercials are as of July 27, 2021. 10-year note: Currently net long 164.5k, up 75.6k. This week’s FOMC meeting was big yawn except for one thing. Members obviously left the fed funds rate at the current … Continued
Following futures positions of non-commercials are as of July 20, 2021. 10-year note: Currently net long 88.9k, up 32.9k. Next week, the FOMC meets. This is the year’s fifth policy meeting, and three more remain. A lot has happened since … Continued
Following futures positions of non-commercials are as of July 13, 2021. 10-year note: Currently net long 56k, up 81.6k. One more month in which inflation overshoots the consensus. In June, headline and core CPI jumped 5.3 percent and 4.5 percent … Continued
Following futures positions of non-commercials are as of July 6, 2021. 10-year note: Currently net short 25.6k, down 34.4k. On Tuesday, slicing through low-1.40s, the 10-year (1.36 percent) broke not one, two but triple support – four-month descending channel, 11-month … Continued
Following futures positions of non-commercials are as of June 29, 2021. 10-year note: Currently net short 60k, up 57.6k. FOMC minutes for the June 15-16 meeting are due out next Wednesday. The meeting was a surprise to the markets in … Continued
Following futures positions of non-commercials are as of June 22, 2021. 10-year note: Currently net short 2.3k, up 36.6k. Doves have won – for now. In the wake of a slightly hawkish tilt in last week’s FOMC meeting in which … Continued
Following futures positions of non-commercials are as of June 15, 2021. 10-year note: Currently net long 34.3k, down 139.1k. Last week’s FOMC meeting pulled a surprise on markets. Members brought forward their projections for interest rate hikes into 2023, with … Continued
Following futures positions of non-commercials are as of June 8, 2021. 10-year note: Currently net long 173.4k, up 118.6k. The FOMC meets next week. This is the year’s fourth scheduled meeting; four more remain. Not much is expected to occur … Continued
Following futures positions of non-commercials are as of June 1, 2021. 10-year note: Currently net long 54.8k, down 49.6k. In all likelihood, a trial balloon was floated this week. On Wednesday, Patrick Harker, the Philadelphia Fed president who becomes a … Continued