The following are futures positions of non-commercials as of May 10, 2016. Change is week-over-week. 10-year note: Three FOMC voting members were on full jawboning mode on Thursday. Eric Rosengren, Boston Fed president, said markets are underestimating the likelihood of … Continued
The yellow metal cannot catch a break. GLD, the SPDR Gold ETF, broke down last week, losing eight-month support at $110. The corresponding support on spot gold lies around $1,140. Friday, gold closed at $1,132.20 and GLD at $108.65. The … Continued
The following are futures positions of non-commercials as of July 14, 2015. Change is week-over-week. 10-year note: Fed Chair Janet Yellen during her mid-week Humphrey-Hawkins testimony reiterated her desire to hike interest rates later this year, if data cooperate. On … Continued
In the right circumstances, U.S. stocks have room to rally – at least in the near-term. After the recent pullback, U.S.-based stock funds attracted $14.1 billion in the week ended July 8 – biggest inflows since mid-December (courtesy of Lipper). … Continued
June’s housing starts will be published this Friday. Month-to-month, this is a volatile series. May was down 11 percent, while April was up 22 percent. Historically, starts remain low. As Chart 1 shows, it is not often the green line … Continued
The following are futures positions of non-commercials as of July 7, 2015. Change is week-over-week. 10-year note: After the June FOMC minutes were released, investors pushed back expectations for the first interest rate hike to March next year. The minutes … Continued
Of late, equity bulls have pulled in their horns. Just a tad. Will they be rewarded for their steadfast bullishness in the near-term? Investors Intelligence’s survey of bulls this week registered at 44.8 percent. This was the sixth sub-50 reading … Continued
The following are futures positions of non-commercials as of June 23, 2015. Change is week-over-week. 10-year note: Yields pushed up nearly 21 basis points for the week. Sales of both new and existing homes did well in May (even though … Continued
The following are futures positions of non-commercials as of June 16, 2015. Change is week-over-week. 10-year note: Let us see if we can make some sense out of this week’s major developments. The FOMC met, and it looked like members … Continued
Since the euro peaked in March last year, it has consistently been a loser’s game to try to pick a bottom. For the umpteenth of time, the currency — and FXE, the euro ETF — has looked like it was … Continued