July 8th – 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 (delayed due to July 4th holiday).
The non-commercial futures contracts of 10-Year Note futures, traded by large speculators and hedge funds, totaled a net position of -288,884 contracts in the data reported through Tuesday July 2nd. This was a weekly change of -7,785 net contracts from the previous week which had a total of -281,099 net contracts.
The week’s net position was the result of the gross bullish position (longs) decreasing by -33,998 contracts (to a weekly total of 638,138 contracts) while the gross bearish position (shorts) fell by -26,213 contracts for the week (to a total of 927,022 contracts).
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The large speculators slightly added to their existing bearish positions after large pull backs in two out of the previous three weeks (+101,714 on June 11th and +121,885 on June 25th). The overall speculator sentiment remains bearish although the bearish position is now under the -300,000 net contract level for a second 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 259,443 contracts on the week. This was a weekly rise of 39,531 contracts from the total net of 219,912 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 $128.51 which was a rise of $0.39 from the previous close of $128.12, 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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