10 Year Treasury Note Speculators Trim Net Bullish Positions
Zachary Storella | Aug 31, 2015 01:48AM ET
Weekly Large Trader COT Report: 10 Year US Treasury Note
CFTC Futures data shows speculators net bullish bets at +1,313 contracts
10 Year Treasury Note Non-Commercial Positions:
Large 10-year treasury note futures traders and speculators trimmed their overall bullish positions for a second week last week and net contracts are now close to a neutral position, 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 +1,313 contracts in the data reported for August 25th. This was a weekly change of -5,988 net contracts from the previous week’s total of +7,301 net contracts that was recorded on August 18th.
For the week, the overall standing long positions in 10-year futures declined by -58,407 contracts and overtook a similar decline in the short positions by -52,419 contracts to register the overall net change of -5,988 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) cut their overall bullish positions to a total net position of +90,829 contracts through August 25th. This is a weekly change of -31,748 contracts from the total net position of +122,577 contracts on August 18th.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday August 18th to Tuesday August 25th, the 7-10 Year Treasury Bond ETF increased from 106.24 to 107.24, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (NYSE:IEF).
Last 6 Weeks of Large Trader Positions
| Date | Open Interest | Change OI | Net Commercial Positions | Weekly Com Changes | Net Large Specs Positions | Weekly Spec Changes |
| 20150721 | 2732943 | 36188 | 129440 | -16360 | 27400 | 32999 |
| 20150728 | 2798316 | 65373 | 93070 | -36370 | 65642 | 38242 |
| 20150804 | 2923638 | 125322 | 126791 | 33721 | 32498 | -33144 |
| 20150811 | 2977165 | 53527 | 110906 | -15885 | 47807 | 15309 |
| 20150818 | 2955775 | -21390 | 122577 | 11671 | 7301 | -40506 |
| 20150825 | 3025581 | 69806 | 90829 | -31748 | 1313 | -5988 |
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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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