10-Year Note Speculators Cut Back On Bullish Net Positions
Zachary Storella | Jul 09, 2017 04:25AM ET
10-Year Note Non-Commercial Speculator Positions:
Large speculators sharply lowered their bullish net positions in the 10-Year Note futures markets this week for a second consecutive 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 262,962 contracts in the data reported through Tuesday July 3rd. This was a weekly decrease of -39,136 contracts from the previous week which had a total of 302,098 net contracts.
Speculators have reduced their bullish bets by -82,210 net contracts over the past two weeks although positions remain firmly bullish and over the +200,000 net contract for a ninth straight week.
10-Year Note Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -101,597 contracts on the week. This was a weekly gain of 42,277 contracts from the total net of -143,874 contracts reported the previous week.
IEF (NYSE:IEF) ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $106.06 which was a loss of $-1.30 from the previous close of $107.36, according to unofficial market data.
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