June 22nd – 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 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 -402,984 contracts in the data reported through Tuesday June 18th. This was a weekly change of -36,996 net contracts from the previous week which had a total of -365,988 net contracts.
The week’s net position was the result of the gross bullish position (longs) declining by -22,496 contracts (to a weekly total of 621,005 contracts) while the gross bearish position (shorts) increased by 14,500 contracts for the week (to a total of 1,023,989 contracts).
The large speculators raised their bearish bets this week following a sharp contraction by 101,714 contracts last week. Despite the strength of the 10-Year bond notes recently, speculator bets have continued to be more bearish than bullish (bearish bets have risen in five out of the last seven weeks with a net change of -115,063 contracts over that period).
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Currently, the overall bearish position is back above the -400,000 net contract level which marks just the third time bets have been this bearish since November 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 340,399 contracts on the week. This was a weekly advance of 29,275 contracts from the total net of 311,124 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 $127.50 which was a rise of $0.70 from the previous close of $126.80, 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).
Article By CountingPips.com – Receive our weekly COT Reports by Email
