May 18th – 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 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 -352,817 contracts in the data reported through Tuesday May 14th. This was a weekly change of -22,255 net contracts from the previous week which had a total of -330,562 net contracts.
The week’s net position was the result of the gross bullish position (longs) gaining by 38,795 contracts to a weekly total of 616,402 contracts but was overcome by the gross bearish position (shorts) that rose by 61,050 contracts for the week to a total of 969,219 contracts.
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The 10-Year speculators have raised their bearish bets for two straight weeks and for seven out of the past eight weeks. The net standing is now at the most bearish level since December 18th when the net position totaled -380,779 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 300,975 contracts on the week. This was a weekly boost of 8,785 contracts from the total net of 292,190 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 $124.32 which was an uptick of $0.31 from the previous close of $124.01, 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).
Article By CountingPips.com – Receive our weekly COT Reports by Email