10-year Note Speculators Advanced Their Bullish Net Positions
Zachary Storella | Sep 03, 2017 05:19AM ET
10-Year Note Non-Commercial Speculator Positions:
Large bond speculators lifted 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 283,719 contracts in the data reported through Tuesday August 29th. This was a weekly rise of 22,474 contracts from the previous week which had a total of 261,245 net contracts.
Speculative bets have gained for a second consecutive week to the highest level since June 27th when net positions totaled +302,098 contracts and are now above the +250,000 contract level for a second straight week as well.
10-Year Note Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -123,701 contracts on the week. This was a weekly decline of -43,398 contracts from the total net of -80,303 contracts reported the previous week.
IEF (NASDAQ:IEF) ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $108.16 which was an advance of $0.73 from the previous close of $107.43, according to unofficial market data.
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