Financial Mews

Rate cut optimism is flying high before Friday's J.Powel speech at Jacksonville and traders are loading up on futures (aka they take on unusually high amount of risk in pro-cut direction) as possible cut cycle nears and many believe it will bring the market rally. 

After all it's would be the first cut announcement after 4 years ... yeah, time flies.  

Technically that means that the number of leveraged positions in Treasury futures has risen to an all-time high. Not sure we say that leverage going higher ↑↑↑ is a good thing 🤔 but who knows...