10 Year Treasury Note Speculators Sharply Reduced Bearish Net Positions
Zachary Storella | Mar 19, 2017 04:04AM ET
10-Year Treasury Note Non-Commercial Positions:
Large speculators and traders sharply decreased 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 -194,392 contracts in the data reported through March 14th. This was a weekly change of 104,122 contracts from the previous week which had a total of -298,514 net contracts.
Speculators have cut their bearish positions by over +100,000 contracts for two straight weeks after marking a record high bearish position on February 28th with a total of -409,659 net 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 411,989 contracts last week. This is a weekly decline of -113,320 contracts from the total net of 525,309 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 $103.83 which was a decline of $-0.57 from the previous close of $104.4, according to ETF market data.
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