10-Year Note Speculators Flipped Bets Back Into Bearish Position This Week
Zachary Storella | Jun 21, 2020 01:17AM ET
Large bond speculators decreased their 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 -10,885 contracts in the data reported through Tuesday, June 16th. This was a weekly change of -13,139 net contracts from the previous week which had a total of 2,254 net contracts.
The week’s net position was the result of the gross bullish position (longs) lowering by -32,665 contracts (to a weekly total of 668,881 contracts) while the gross bearish position (shorts) fell by a lesser amount by -19,526 contracts for the week (to a total of 679,766 contracts).
10-Year Note speculators reduced their positions this week and dropped the overall net position back into a bearish level. Last week (+2,254 contracts) was the first time since December 12th of 2017 that the overall net position was in positive territory, a span of 130 weeks. Overall, this week’s data shows that the speculators and the commercials are currently in neutral positioning for the 10-Year with an uncertain outlook.
h3 10-Year Note Commercial Positions:/h3The commercial traders' position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -16,726 contracts on the week. This was a weekly loss of -9,425 contracts from the total net of -7,301 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 10-Year Note Futures (Front Month) closed at approximately $138.79 which was a gain of $0.64 from the previous close of $138.15, according to unofficial market data.
/h3
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.