10-Year Note Speculators strongly raised their bearish bets this week

December 15, 2018

December 15th 2018 – By CountingPips.comReceive our weekly COT Reports by Email

10-Year Note Non-Commercial Speculator Positions:

Large bond speculators sharply added to their bearish net positions in the 10-Year Note futures markets 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 -393,802 contracts in the data reported through Tuesday December 11th. This was a weekly change of -100,616 net contracts from the previous week which had a total of -293,186 net contracts.

This week’s net position was the result of the gross bullish position falling by -53,250 contracts to a weekly total of 603,949 contracts combined with the gross bearish position which saw a lift by 47,366 contracts for the week to a total of 997,751 contracts.


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The speculative position has been shedding large amounts of bearish positions over the past few months before a turnaround in the past two weeks. The spec standing had gone from a record high bearish position of -756,316 contracts on September 25th to a total of -284,223 contracts two weeks ago. This week’s turnaround pushed the bearish bets level back up over the -350,000 contract level and to the highest bearish standing since November 6th.

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 414,180 contracts on the week. This was a weekly advance of 36,873 contracts from the total net of 377,307 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 $120.42 which was a boost of $0.40 from the previous close of $120.01, 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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