Daily Report : The troops are leading the general; Futures traders' odd position in Treasuries


  • Jason Goepfert

    Jason Goepfert

    Published: 2020-10-06 at 17:32:02 CDT

The S&P 500's Cumulative Advance/Decline Line hit a new all-time high as the rally has broadened. This is leading the S&P 500 index itself, which is still below its own high. When the troops lead the general like this, it has typically led to positive forward returns.; In recent weeks, hedgers in 10-year Treasury futures have gone net short, while being long the 30-year contract. It has happened to this degree only twice before, both of which preceded a massively steeper yield curve, falling dollar, and rising gold.


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