10 Year Treasury Note Speculators Cut Back On Bearish Net Positions
Zachary Storella | Jan 29, 2017 04:18AM ET
10 Year Treasury Note Non-Commercial Positions:
Large speculators and traders sharply reduced their bearish net positions in the 10-year treasury note futures markets last 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 treasury note futures, traded by large speculators and hedge funds, totaled a net position of -297,179 contracts in the data reported through January 24th. This was a weekly change of 78,557 contracts from the previous week which had a total of -375,736 net contracts.
Speculative traders have now reduced their bearish positions for a second straight week after reaching a record high bearish position on January 10th at a total of -394,689 contracts.
10 Year Treasury 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 478,362 contracts last week. This is a weekly decline of -115,451 contracts from the total net of 593,813 contracts reported the previous week.
iShares 7-10 Year Treasury Bond (NYSE:IEF):
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $104.97 which was a decline of $-0.95 from the previous close of $105.92, according to ETF market data.
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