10 Year Treasury Note Speculators Trimmed Their Net Bearish Positions
Zachary Storella | May 15, 2016 01:52AM 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 slightly reduced their overall bearish positions last week after boosting bearish positions for the previous two weeks, 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 -79,260 contracts in the data reported for May 10th. This was a weekly change of +2,760 net contracts from the previous week’s total of -82,020 net contracts that was recorded on May 3rd.
For the week, the overall standing long positions in 10-year futures rose by 1,821 contracts and combined with a fall in the short positions by -939 contracts to register the overall net change of +2,760 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 back on their overall bullish positions to a total net position of +158,489 contracts through May 10th. This is a weekly change of -5,619 contracts from the total net position of +164,108 contracts on May 3rd.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday May 3rd to Tuesday May 10th, the 7-10 Year Treasury Bond ETF rose from 110.17 to 110.60, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (NYSE:IEF).
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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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