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10 Year Treasury Note Non-Commercial Positions:
Large speculators reduced their net positions in the 10-year treasury note futures markets last week for a second straight week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of 10-year treasury note futures, traded by large speculators and hedge funds, totaled a net position of 212,066 contracts in the data reported through June 6th. This was a weekly decline of -46,099 contracts from the previous week which had a total of 258,165 net contracts.
Speculative positions have now dropped by -150,435 net contracts over the past two weeks after bullish bets had surged to their best position since 2007 on May 23rd at +362,501 contracts.
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10 Year Treasury Note Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -59,974 contracts last week. This was a weekly rise of 30,139 contracts from the total net of -90,113 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $107.73 which was a gain of $0.62 from the previous close of $107.11, according to ETF market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the previous Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article by CountingPips.com