10 Year Treasury Note Speculators Trimmed Net Bullish Positions
Zachary Storella | Mar 27, 2016 03:00AM ET
Weekly Large Trader COT Report: 10-Year US Treasury Note
CFTC Futures data shows speculators decreased on standing long positions
10 Year Treasury Note Non-Commercial Positions:
Large 10-year treasury note futures traders and speculators cut back on their overall bullish positions last week for a second consecutive 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 +50,105 contracts in the data reported for March 22nd. This was a weekly change of -14,993 net contracts from the previous week’s total of +65,098 net contracts that was recorded on March 15th.
For the week, the overall standing long positions in 10-year futures fell by -15,231 contracts and overtook a small decline in the short positions by -238 contracts to register the overall net change of -14,993 contracts for the week.
10-year note speculative positions have been on the bullish or long side for the past five weeks which is the longest streak since August of 2015.
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) turned back to an overall bullish position for the first time in three weeks at a total net position of +13,198 contracts through March 22nd. This is a weekly change of +22,700 contracts from the total net position of -9,502 contracts on March 15th.
iShares 7-10 Year Treasury Bond (NYSE:IEF) ETF:
Over the same weekly reporting time-frame, from Tuesday March 15th to Tuesday March 22nd, the 7-10 Year Treasury Bond ETF edged higher from 108.46 to 108.80, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (NYSE:IEF).
Last 6 Weeks of Large Trader Positions
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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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