10-Year Note Speculators raised their bearish bets for 1st time in 8 weeks

November 2, 2019

November 2nd – By CountingPips.comReceive 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 -116,066 contracts in the data reported through Tuesday October 29th. This was a weekly change of -31,713 net contracts from the previous week which had a total of -84,353 net contracts.

The week’s net position was the result of the gross bullish position (longs) increasing by 51,897 contracts (to a weekly total of 716,215 contracts) while the gross bearish position (shorts) jumped by a greater amount of 83,610 contracts for the week (to a total of 832,281 contracts).


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10-year note speculators raised their bearish bets following seven straight weeks of declining bearish positions. The previous declines had brought the overall position to the least bearish level in ninety-four weeks, dating back to January 2nd of 2018. This week’s reboot of bearish bets pushed the net position back above the -100,000 contract level for the first time since October 8th.

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 125,228 contracts on the week. This was a weekly rise of 62,216 contracts from the total net of 63,012 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 $129.28 which was a shortfall of $-0.54 from the previous close of $129.82, 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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