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10-Year Note Non-Commercial Speculator Positions:
Large speculators lowered their net positions in the 10-Year Note futures markets this week for a second consecutive 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 Note futures, traded by large speculators and hedge funds, totaled a net position of 210,880 contracts in the data reported through Tuesday August 1st. This was a weekly reduction of -69,804 contracts from the previous week which had a total of 280,684 net contracts.
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The drop in speculative bets for the 10-Year Note futures brings the net position under the +250,000 level for the first time in eight weeks.
10-Year 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 -45,056 contracts on the week. This was a weekly increase of 52,757 contracts from the total net of -97,813 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 $106.95 which was an advance of $0.65 from the previous close of $106.30, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent 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 – Weekly COT Report