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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (33934)	6/5/2005 2:46:38 PM
From: russwinter	Read Replies (1) \| Respond to of 110194

<then that trade has to be unwound, and in fairly short order we should see a fairly dramatic rise in interest rates and fall in the dollar, correct?> The anti-USD part has already been unwound, in fact the specs are now short non-US currencies, lick, lick, chop, chop: March 8: Specs longs: //> May 31 Pound 59,295 // > short 11,826 Aussie: 74,944 // > long 8,306 Canada: 16,045 // > short 28,303 Euro: 35,433 // > short 13,424 Yen: 3,938 // > short 50,160 US Dollar index: 9654 // > short 17,528 The rate complex is in large measure getting unwound but has taken awhile. Large specs or funds have covered and gone long, but the small specs are hanging in there: March 8 specs shorts // > May 31 Eurodollars: -1,148,084 // > -459,174 5 year: - 317,329 // > -143,379 10 year: -471,085 // > -95,362 30 year: -60,901 // > -46,412