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Did anyone see last week's Commitments of Traders report for the bond
contract. Most commercials are very short. Tech Data said,
"commercial traders are the most bearish they've been since June 25, and
hold a total fo 77.7% of all shorts. While the contract already
suffered following Friday's payroll data,the commercial short position
translates into an astounding 93,644 contracts. This means non-comm and
small traders (THATS MOST OF US, I THINK) are caught long. We expect
the market to remain under pressure in the coming days."
Today's retail sales and flight to q blew that away. Are we above key
resistance and headed into some of the lowest rates in history? Goldman
Sachs had forecast major resistance at 119-20. Could the commercials be
wrong?
Thoughts? Effects on other mkts?
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