One Bank Sees “Further Clear-Out” For Dollar Longs

One Bank Sees “Further Clear-Out” For Dollar Longs

As documented in Monday's kickstart, it's all about the (slow) unraveling of the reflation trade this morning. The latest CFTC data (for the week ended Jan. 17) showed specs trimming their Treasury shorts a bit, but positioning remains extreme fueling fears that a reversal could be violent (i.e. a sharp move lower in yields). The dollar is the story of the day so far and the trade is basically all about what comes out of Trump's mouth or the mouths of his inner circle. In other words, it looks
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