S&P 5007,659.44-1.09%Nasdaq26,140.03-2.15%Dow52,002.41-0.34%Nikkei 22565,324.29+1.39%Hang Seng24,186.83+0.52%EuroStoxx 506,204.23+0.58%Dollar (DXY)101.84-0.16%EUR/USD1.12-0.17%USD/JPY157.96-0.12%GBP/USD1.33+0.27%USD/CNY6.68-0.21%US 10Y yield5.10+1bpUS 5Y yield4.90+0bpGold4,181.10+0.26%Silver57.31+0.82%Copper6.57+0.95%Platinum1,633.10+1.39%Palladium1,118.60-0.21%WTI99.02+1.07%Brent109.86+3.72%Henry Hub3.12-3.71%Gasoline3.14-1.13%Heating oil4.72-2.53%Wheat660.50-1.42%Corn474.25-0.78%Soybeans1,261.25-0.14%Coffee305.55+3.65%Sugar20.85-1.33%Cocoa5,686.00-2.49%Cotton80.00-0.07%Lithium ETF64.05-2.32%Uranium ETF35.43-1.91%Rare Earths ETF54.23-2.71%Copper Miners ETF79.98-1.05%Bitcoin81,038.58-0.42%Ethereum2,363.30-1.52%Solana101.86-1.41%S&P 5007,659.44-1.09%Nasdaq26,140.03-2.15%Dow52,002.41-0.34%Nikkei 22565,324.29+1.39%Hang Seng24,186.83+0.52%EuroStoxx 506,204.23+0.58%Dollar (DXY)101.84-0.16%EUR/USD1.12-0.17%USD/JPY157.96-0.12%GBP/USD1.33+0.27%USD/CNY6.68-0.21%US 10Y yield5.10+1bpUS 5Y yield4.90+0bpGold4,181.10+0.26%Silver57.31+0.82%Copper6.57+0.95%Platinum1,633.10+1.39%Palladium1,118.60-0.21%WTI99.02+1.07%Brent109.86+3.72%Henry Hub3.12-3.71%Gasoline3.14-1.13%Heating oil4.72-2.53%Wheat660.50-1.42%Corn474.25-0.78%Soybeans1,261.25-0.14%Coffee305.55+3.65%Sugar20.85-1.33%Cocoa5,686.00-2.49%Cotton80.00-0.07%Lithium ETF64.05-2.32%Uranium ETF35.43-1.91%Rare Earths ETF54.23-2.71%Copper Miners ETF79.98-1.05%Bitcoin81,038.58-0.42%Ethereum2,363.30-1.52%Solana101.86-1.41%

The State of Macro Positioning, Q3 2026

Monthly flagship — report #24. Synthesis of the Q3 weekly stack: COT positioning, the copper spread/stocks tension, prediction-market calibration and depth, and funding & liquidity, with cross-asset volatility folded in for context.

data as of 2026-09-08 · published 2026-09-12 · next update monthly

TL;DR — the read in bullets

JPY is the single most crowded position on the board — 9.0th pct of its own 3y range, -111,297 contracts net short, after a one-week swing of -29,678.

teaser chart

6 further findings, 6 charts and the method notes are in the full report.

They are absent from this page, not hidden — view-source and check.

The full report is on Full Access.

Already subscribed? Sign in.

MacroTerminal Research is market commentary and data analysis. It is not investment advice, and nothing here is a recommendation to buy or sell anything.

MacroTerminal is a research publication and is not investment advice; nothing here is a recommendation to buy or sell anything.