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10-Year Note Non-Commercial Speculator Positions:
Large treasury bond speculators reduced their bearish net positions in the 10-Year Note futures markets again this 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 -381,922 contracts in the data reported through Tuesday May 15th. This was a weekly rise of 26,707 contracts from the previous week which had a total of -408,629 net contracts.
Speculators have reduced their bearish bets by a total of 80,211 contracts over the past three weeks. The decline in bearish sentiment follows a run up to the record high bearish position that took place on April 24th with a total bearish standing of -462,133 contracts.
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10-Year Note Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 616,983 contracts on the week. This was a weekly decline of -22,869 contracts from the total net of 639,852 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 $100.63 which was a decrease of $-0.79 from the previous close of $101.42, 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 – Receive our weekly COT Reports by Email