October 26th – By CountingPips.com – Receive our weekly COT Reports by Email
10-Year Note Non-Commercial Speculator Positions:
Large bond speculators once again cut back on 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 -84,353 contracts in the data reported through Tuesday October 22nd. This was a weekly change of 15,339 net contracts from the previous week which had a total of -99,692 net contracts.
The week’s net position was the result of the gross bullish position (longs) going up by just 2,979 contracts (to a weekly total of 664,318 contracts) while the gross bearish position (shorts) lowered by -12,360 contracts for the week (to a total of 748,671 contracts).
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10-year treasury speculators once again decreased their bearish bets for a seventh straight week and now by a total of 293,514 contracts over that period. The decrease in bearish sentiment has brought the position to its least bearish standing in ninety-four weeks dating back to January 2nd of 2018.
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 63,012 contracts on the week. This was a weekly boost of 23,023 contracts from the total net of 39,989 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 $129.82 which was an uptick of $0.03 from the previous close of $129.79, 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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