monetary head fake Archives - Alhambra Investments

Explaining All The Facts

St. Louis Fed President James Bullard was in New York last week, making a presentation to the US Monetary Policy Forum. A well-known dove, speaking to CNBC while attending the conference, as a current voting member of the FOMC Bullard announced his dissenting view to the last “rate hike.” He was not eligible to vote [...]

COT Blue: The Velocity of Capitulation

By Jeffrey P. Snider|2019-02-11T13:06:32-05:00February 11th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

On Friday, the CFTC posted its COT data for the first week in 2019. For crude oil, capitulation. For US Treasury bond futures, capitulation. In the latter financial market, unsurprisingly the net market position utterly collapsed during December. From a relatively high (meaning market overall short) +58k contracts that last week in November when everyone [...]

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