10-Year Note Speculators trimmed their bearish bets

December 22, 2018

December 22nd – By CountingPips.comReceive our weekly COT Reports by Email

10-Year Note Non-Commercial Speculator Positions:

Large bond speculators decreased 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 -380,779 contracts in the data reported through Tuesday December 18th. This was a weekly change of 13,023 net contracts from the previous week which had a total of -393,802 net contracts.

This week’s net position was the result of the gross bullish position rising by 23,223 contracts to a weekly total of 627,172 contracts that overtook the gross bearish position which saw an advance by 10,200 contracts for the week to a total of 1,007,951 contracts.

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The speculative net bearish position retreated this week after two weeks of gaining bearish bets that pushed the bearish level to a five-week high. The current standing now remains under the -400,000 net contract level for a sixth straight week.

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 397,340 contracts on the week. This was a weekly loss of -16,840 contracts from the total net of 414,180 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 $120.85 which was an advance of $0.43 from the previous close of $120.42, 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).

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