As per the latest Commitment of Traders Report released this past Friday by the Commodity Futures Trading Commission, the Commercials or Hedgers have increased their net long positions by substantial amounts which indicates they expect a surge in 10 Year and 30 Year US Treasury prices which means lower yields. A further confirmation can be seen as the open interest, or the number of outstanding futures contracts, which have risen along with the increase in the net long positions. Their bullishness in Treasuries may be signaling a future slowdown in the economy and possibly a double dip recession ahead, if not worse. Thus would not be bullish for the stock market.
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