December 10th – By CountingPips.com – Receive our weekly COT Reports by Email
10-Year Note Non-Commercial Speculator Positions:
Large bond speculators increased their bearish net positions in the 10-Year Note futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday which was a delay due to former President George H.W. Bush’s funeral last week.
The non-commercial futures contracts of 10-Year Note futures, traded by large speculators and hedge funds, totaled a net position of -293,186 contracts in the data reported through Tuesday December 4th. This was a weekly change of -8,963 net contracts from the previous week which had a total of -284,223 net contracts.
The week’s net position was the result of the gross bullish position ascending by 76,069 contracts to a weekly total of 657,199 contracts compared to the gross bearish position which saw a rise by 85,032 contracts for the week to a total of 950,385 contracts.
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The speculative net position saw a slight boost in the bearish level after specs had severely contracted their bearish bets by a total of 254,963 contracts in the previous three weeks. The current standing remains under the -300,000 net contract level for a second straight week after numbering over -700,000 contracts just ten weeks ago.
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 377,307 contracts on the week. This was a weekly fall of -43,615 contracts from the total net of 420,922 contracts reported the previous week.
10-Year Note Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 10-Year Note Futures (Front Month) closed at approximately $120.01 which was an uptick of $0.90 from the previous close of $119.10, 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).
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