10 Year Treasury Note Speculators Cut Back On Net Bullish Positions
Zachary Storella | Mar 07, 2016 01:55AM ET
Weekly Large Trader COT Report: 10 Year US Treasury Note
10 Year Treasury Note Non-Commercial Positions:
Large 10-year treasury note futures traders and speculators reduced their overall bullish positions last week after amassing a net bullish position the previous 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 +2,554 contracts in the data reported for March 1st. This was a weekly change of -82,105 net contracts from the previous week’s total of +84,659 net contracts that was recorded on February 23rd.
For the week, the overall standing long positions in 10-year futures declined by -62,380 contracts and combined with a gain in the short positions by 19,725 contracts to register the overall net change of -82,105 contracts for the week.
10 Year US Treasury Note 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) returned to an overall bullish position at a total net position of +49,672 contracts through March 1st. This is a weekly change of +101,985 contracts from the total net position of -52,313 contracts on February 23rd.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday February 23rd to Tuesday March 1st, the 7-10 Year Treasury Bond ETF declined from 110.60 to 109.55, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (NYSE: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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
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