10-Year Treasury Note Speculators Raise Bullish Positions
Zachary Storella | Nov 28, 2016 11:27PM ET
10 Year Treasury Note Non-Commercial Positions:
Large speculators and traders sharply increased their bullish net positions in the 10-year treasury note futures markets last week for the second straight week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday (due to the Thanksgiving Day holiday).
The non-commercial futures contracts of 10-year treasury note futures, traded by large speculators and hedge funds, totaled a net position of 172,648 contracts in the data reported through November 22nd. This was a weekly change of 35,252 contracts from the previous week which had a total of 137,396 net contracts.
Speculative positions are now at the most bullish level since July 26th when total positions equaled 185,521 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, fell sharply for a 2nd week to a total net position of 7,615 contracts last week. This is a weekly decline of -23,643 contracts from the total net of 31,258 contracts reported the previous week.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $105.85 which was a change of $-0.65 from the previous close of $106.50, according to market data from Yahoo Finance.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the previous Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers and traders for business purposes) were positioned in the futures 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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