Following futures positions of non-commercials are as of July 14, 2020. 10-year note: Currently net long 58.1k, up 14.9k. The 10-year Treasury yield (0.63 percent) continues to bounce along the lower bound of a four-month range between 0.73 percent and … Continued
Following futures positions of non-commercials are as of July 7, 2020. 10-year note: Currently net long 43.2k, up 12.2k. The 10-year Treasury yield is clinging on to support. It shed four basis points this week to close at 0.63 percent; … Continued
Following futures positions of non-commercials are as of June 30, 2020. 10-year note: Currently net long 31k, up 24.5k. The 10-year Treasury yield cannot break the logjam. Since bottoming on March 9th at 0.40 percent, rates have pretty much been … Continued
Small-caps and large-caps went their own separate ways for a while, with the Russell 2000 peaking as far back as August 2018 and the S&P 500 in February this year. Since the trough this March, they have been on the … Continued
Following futures positions of non-commercials are as of June 16, 2020. 10-year note: Currently net short 10.9k, down 13.1k. Foreigners are aggressively getting out of the US sovereign bond market. In March and April, they sold $475.6 billion in Treasury … Continued
Following futures positions of non-commercials are as of June 9, 2020. 10-year note: Currently net long 2.3k, up 55.2k. Post-conclusion of FOMC meeting, Fed Chair Jerome Powell Wednesday sought to play down May’s much-better-than-expected jobs report, which showed the economy … Continued
Following futures positions of non-commercials are as of June 2, 2020. 10-year note: Currently net short 52.9k, up 14.9k. This week, the ECB surprised markets with its new bond purchase program (more below). The FOMC meets next week. But no … Continued
Following futures positions of non-commercials are as of May 26, 2020. 10-year note: Currently net short 38.1k, down 55.1k. The 10-year treasury yield (0.65 percent) has essentially gone sideways for nearly three months now. This was at a time when … Continued
Following futures positions of non-commercials are as of May 19, 2020. 10-year note: Currently net short 93.1k, down 58.4k. This data is a little outdated, but foreigners were big sellers of Treasury securities in March. On a net basis, they … Continued
Last week, the S&P 500, Nasdaq 100 and Russell 2000 respectively fell 2.3 percent, 0.7 percent and 5.5 percent. Bulls’ consolation is that the indices were down a lot more at Thursday’s lows and that they were able to defend … Continued