November 9th – By CountingPips.com – Receive our weekly COT Reports by Email
10-Year Note Non-Commercial Speculator Positions:
Large bond speculators sharply 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 -231,456 contracts in the data reported through Tuesday November 5th. This was a weekly change of -115,390 net contracts from the previous week which had a total of -116,066 net contracts.
The week’s net position was the result of the gross bullish position (longs) falling by -62,945 contracts (to a weekly total of 653,270 contracts) in addition to the gross bearish position (shorts) rising by 52,445 contracts for the week (to a total of 884,726 contracts).
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10-Year speculators raised their bearish bets for a second straight week and by largest one-week amount (-115,390 contracts) in over a year, dating back to September of 2018. This recent bearishness pushes the overall position to the most bearish level in eight weeks with contracts back over the -200,000 net contract standing.
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 240,121 contracts on the week. This was a weekly boost of 114,893 contracts from the total net of 125,228 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 $128.92 which was a fall of $-0.35 from the previous close of $129.28, 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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