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What’s Really Going On With That ‘Massive’ Treasury Short?
There's been no shortage of chatter recently about the near-record spec short in Treasurys and, more to the point, whether it presages a short squeeze.
After paring bearish bets a week after the 10Y short pushed to a new record, the position was rebuilt in the week through last Tuesday and now sits at 680K contracts.
(Bloomberg)
Again, the prevailing narrative is that spec positioning is a contrarian indicator and that when things get as purportedly stretched as they are now on the short si
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