10-Year Note Speculators once again raised their bearish bets for 4th week

April 20, 2019

April 20th – By CountingPips.comReceive our weekly COT Reports by Email

10-Year Note Non-Commercial Speculator Positions:

Large bond speculators continued to boost 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 -275,650 contracts in the data reported through Tuesday April 16th. This was a weekly change of -14,086 net contracts from the previous week which had a total of -261,564 net contracts.

The week’s net position was the result of the gross bullish position (longs) sinking by -9,869 contracts to a weekly total of 620,384 contracts which combined with the gross bearish position (shorts) that saw an advance by 4,217 contracts for the week to a total of 896,034 contracts.


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The net speculative bearish position has now risen for four straight weeks and by a total of -111,676 net contracts over that time-period. The current net position is at the most bearish level since December 31st (-308,287 contracts) but remains a far ways off the levels of the August-to-October period which had peaks of more than -700,000 contracts.

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 263,707 contracts on the week. This was a weekly advance of 46,473 contracts from the total net of 217,234 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 $122.82 which was a decrease of $-0.82 from the previous close of $123.64, 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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