10 Year Treasury Note Speculators Edge Net Bullish Positions Lower
Zachary Storella | Mar 20, 2016 03:08AM ET
Weekly Large Trader COT Report: 10 Year US Treasury Note
CFTC Futures data shows speculators have been on bullish side for four weeks
10 Year Treasury Note Non-Commercial Positions:
Large 10-year treasury note traders and speculators slightly trimmed their overall bullish positions in the futures market last week as speculators have remained bullish for four straight weeks, 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 +65,098 contracts in the data reported for March 15th. This was a weekly change of -2,989 net contracts from the previous week’s total of +68,087 net contracts that was recorded on March 8th.
For the week, the overall standing long positions in 10-year futures fell by -9,374 contracts while the short positions also declined by -6,385 contracts to register the overall net change of -2,989 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) added to their overall bearish positions to a total net position of -9,502 contracts through March 15th. This is a weekly change of -5,655 contracts from the total net position of -3,847 contracts on March 8th.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday March 8th to Tuesday March 15th, the 7-10 Year Treasury Bond ETF decreased from 109.53 to 108.46, 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).
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