10-Year Note Speculators Lowered Bullish Net Positions For 1st Time
Zachary Storella | Jul 02, 2017 05:17AM ET
10-Year Note Non-Commercial Speculator Positions:
Large speculators decreased their bullish 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 302,098 contracts in the data reported through Tuesday June 27th. This was a weekly reduction of -43,074 contracts from the previous week which had a total of 345,172 net contracts.
Speculator positions in 10-year notes had gained for the previous two weeks and, despite the decline, remain in a very bullish position above the +300,000 net contract level for a second 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 -143,874 contracts on the week. This was a weekly advance of 57,001 contracts from the total net of -200,875 contracts reported the previous week.
IEF ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $107.36 which was a decrease of $-0.32 from the previous close of $107.68, according to unofficial market data.
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