10-Year Note Speculative Bullish Positions See Huge Drop This Week
Zachary Storella | Dec 10, 2017 03:31AM ET
10-Year Note Non-Commercial Speculator Positions:
Large treasury speculators sharply cut back on their bullish net positions in the 10-Year Note futures markets this 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 Note futures, traded by large speculators and hedge funds, totaled a net position of 14,345 contracts in the data reported through Tuesday December 5th. This was a weekly fall of -109,591 contracts from the previous week which had a total of 123,936 net contracts.
Speculative positions fell hard this week and brought the bullish net level to the lowest spot in five weeks. Spec positions had risen for four straight weeks before this week’s turnaround in speculator sentiment.
10-Year Note Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 197,975 contracts on the week. This was a weekly boost of 111,339 contracts from the total net of 86,636 contracts reported the previous week.
iShares Core MSCI EAFE (NYSE:IEFA) ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $105.96 which was a fall of $-0.25 from the previous close of $106.21, according to unofficial market data.
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