10-Year Note Speculators bearish bets were virtually unchanged this week

July 13, 2019

July 13th – By CountingPips.comReceive our weekly COT Reports by Email

10-Year Note Non-Commercial Speculator Positions:

Large bond speculator’s bearish net positions barely moved this week in the 10-Year Note futures markets, 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 -288,836 contracts in the data reported through Tuesday July 9th. This was a weekly rise of just 48 net contracts from the previous week which had a total of -288,884 net contracts.

The week’s net position was the result of the gross bullish position (longs) rising by 44,268 contracts (to a weekly total of 682,406 contracts) while the gross bearish position (shorts) gained by a similar 44,220 contracts for the week (to a total of 971,242 contracts).

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The large speculators ever so slightly edged their bearish bets lower this week after a small increase last week. Speculator bets recently had some very sharp reductions of their bearish positions on June 11th by +101,714 contracts and on June 25th by +121,885 contracts that has helped bring the overall bearish standing to under the -300,000 net contract level.

The current bearish position continues to remain under the -300,000 net contract level for a third week.

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 215,177 contracts on the week. This was a weekly shortfall of -44,266 contracts from the total net of 259,443 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 $127.67 which was a fall of $-0.84 from the previous close of $128.51, 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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