I see reports of new record shorts but I think we slightly missed the mark.
According to the just-released COT’s report by the CFTC: new record shorts in both 5- and 10-year treasury bonds. $SHY $IEF $AGG $TLT @TheTerminal
— 🇺🇸 James Pillow 🇺🇸 (@jamespillow) July 27, 2018
Big Specs
- In the past month, the number of long contracts fell from 535,849 to 526,182
- In the past month, the number of short contracts rose from 891,173 to 1,035,680. That’s a new record.
- Current Net Short: 509,498. That’s a new record.
- Net Short Increase Since June 26: 154,174
Small Specs
- In the past month, the number of long contracts fell from 340,606 to 332,585
- In the past month, the number of short contracts rose from 508,636 to 521,591
- Current Net Short: 189,006.
- Net Short Increase Since June 26: 20,976
Big Specs + Small Specs are net short a combined 698,504. That is slightly under the May 29 Net Short Total of 699,183. (Scroll down to find 10-year-Treasuries).
When this economy turns, the recent treasury bears will get blown out of the water.
Mike “Mish” Shedlock
Absolutely agree with Mish’s last sentence.
In the meantime, I collect coupon interest.
Not so bad.