10-Year T-Note Large Speculators Cut Back On Net Bearish Positions
Zachary Storella | Jun 14, 2015 01:14AM ET
Weekly CFTC COT Net Speculator Report | 10 Year US Treasury Note
CFTC Futures data shows speculators continued to decrease bearish bets
10-Year Treasuries Non-Commercial Positions:
Large 10-year treasury note futures traders and speculators reduced their overall bearish positions last week for a fifth 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 the 10-year treasury notes, primarily traded by large speculators and hedge funds, totaled a net position of -36,579 contracts in the data reported for June 9th. This was a weekly change of +37,026 net contracts from the previous week’s total of -73,605 net contracts that was recorded on June 2nd.
For the week, the overall standing long positions in 10-year futures rose by 71,629 contracts and overtook the short positions which gained by 34,603 contracts to register the overall net change of +37,026 contracts for the week.
Over the same weekly reporting time-frame, from Tuesday June 2nd to Tuesday June 9th, the yield on the 10-Year treasury note jumped from 2.27 percent to 2.42 percent, according to data from the United States Treasury Department.
Commercial Positions:
In the commercial positions for the 10-year note on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) trimmed their overall net bullish positions to a total net position of +226,433 contracts through June 9th. This is a weekly change of -16,228 contracts from the total net position of +242,661 contracts on June 2nd.
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*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading 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).
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