10-Year Note Non-Commercial Speculator Positions:
Large bond speculators increased their bearish 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 -469,138 contracts in the data reported through Tuesday July 17th. This was a weekly reduction of -29,990 contracts from the previous week which had a total of -439,148 net contracts.
Speculative bearish positions had fallen last week following a record high bearish position on July 3rd over the -500,000 contract level. This week’s rise in bearish positions keeps the overall standing above the -400,000 contract level for a third straight week.
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 647,675 contracts on the week. This was a weekly rise of 33,134 contracts from the total net of 614,541 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $102.38 which was a gain of $0.11 from the previous close of $102.27, according to unofficial market data.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.