October 5th – By CountingPips.com – Receive our weekly COT Reports by Email
10-Year Note Non-Commercial Speculator Positions:
Large bond speculators cut back on 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 -163,610 contracts in the data reported through Tuesday October 1st. This was a weekly change of 32,696 net contracts from the previous week which had a total of -196,306 net contracts.
The week’s net position was the result of the gross bullish position (longs) growing by 16,543 contracts (to a weekly total of 641,005 contracts) that combined with the gross bearish position (shorts) that decreased by -16,153 contracts for the week (to a total of 804,615 contracts).
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The 10-year net speculators continued to decrease their bearish bets for a fourth straight week and the bearish position has now fallen by a total of 214,257 contracts over that period. This recent decline in bearish bets brings the current standing to the lowest bearish level since February 5th, a span of thirty-four 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 91,721 contracts on the week. This was a weekly pullback of -36,147 contracts from the total net of 127,868 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 $130.78 which was a fall of $-0.09 from the previous close of $130.87, 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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