10 Year Treasury Note Speculators Cut Bets
Zachary Storella | Feb 14, 2016 03:09AM ET
Weekly Large Trader COT Report: 10 Year US Treasury Note
10-Year Treasury Note Non-Commercial (Speculative) Positions:
Large 10-year treasury note futures traders and speculators decreased bets in favor of 10-year notes for a second week and established a new bearish net position, 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 -62,300 contracts in the data reported for February 9th. This was a weekly change of -68,153 net contracts from the previous week’s total of +5,853 net contracts that was recorded on February 2nd.
For the week, the overall standing long positions in 10-year futures dropped by -29,319 contracts while the short positions rose by 38,834 contracts to register the overall net change of -68,153 contracts for the week.
The decline into bearish territory for 10-year speculative positions is the first bearish standing since January 19th.
10-Year US Treasury Note Commercial Positions:
Meanwhile, 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) increased their overall bullish positions to a total net position of +124,975 contracts through February 9th. This is a weekly change of +54,335 contracts from the total net position of +70,640 contracts on February 2nd.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday February 2nd to Tuesday February 9th, the 7-10 Year Treasury Bond ETF rose from 109.47 to 110.59, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (N:IEF).
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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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