10 Year Treasury Note Speculators Reduce Bullish Net Positions
Zachary Storella | Feb 07, 2016 02:32AM 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 trimmed their overall bullish positions last week after turning bullish 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 just +5,853 contracts in the data reported for February 2nd. This was a weekly change of -38,688 net contracts from the previous week’s total of +44,541 net contracts that was recorded on January 26th.
For the week, the overall standing long positions in 10-year futures fell by -6,747 contracts and combined with a rise in the short positions by 31,941 contracts to register the overall net change of -38,688 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) increased their overall bullish positions to a total net position of +70,640 contracts through February 2nd. This is a weekly change of +35,149 contracts from the total net position of +35,491 contracts on January 26th.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday January 26th to Tuesday February 2nd, the 7-10 Year Treasury Bond ETF advanced from 108.31 to 109.47, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (N:IEF).
Last week, speculators trimmed bullish bets while commercials raised their positions amid rising open interest
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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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