GFBP Positions Tracker & Settlements

The Global Futures Benchmark Program Positions Tracker is maintaining the Hedged Long. The program didn’t make any outright changes today. The program is however very close to hitting an extension target which would cause a pare down in a few of the Fixed Income, Equities and Currencies, but it did not trigger. We will continue to monitor it but for now it seems that every pull back in equities is shallow and is used as an entry point for new cash to go to work. With all that we are looking for better locations to get long the Dow, RBOB and Silver. We feel patience is warranted as opposed to chasing. The program also bought a SP 3190 put for directional hedge enhancement in the overall program as we look to rebuy the Dow on a pullback:

As far as the Settlements for July 15th 2020 Russell2k (Value) was the big big winner today and Copper disappointing once again: