10-Year Note Speculators once again trimmed their bearish bets for a 6th week

October 19, 2019

October 19th – By CountingPips.comReceive our weekly COT Reports by Email

10-Year Note Non-Commercial Speculator Positions:

Large bond speculators continued to decrease 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 -99,692 contracts in the data reported through Tuesday October 15th. This was a weekly change of 22,868 net contracts from the previous week which had a total of -122,560 net contracts.

The week’s net position was the result of the gross bullish position (longs) gaining by 56,551 contracts (to a weekly total of 661,339 contracts) while the gross bearish position (shorts) also rose by 33,683 contracts for the week (to a total of 761,031 contracts).


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10-Year speculators cut back on their bearish positions for the sixth consecutive week this week. Speculators have now reduced their bearish bets by a total of 278,175 contracts over that six-week period. The speculative standing is now at the least bearish level since January 16th of 2018 which is a span of ninety-one straight weeks.

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 39,989 contracts on the week. This was a weekly decline of -28,372 contracts from the total net of 68,361 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 $129.79 which was a decline of $-2.03 from the previous close of $131.82, 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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