10-Year Note Speculators Pared Their Bearish Bets From Record Position
Zachary Storella | Jul 15, 2018 02:30AM ET
10 Year Note Non-Commercial Speculator Positions:
Large bond speculators reduced 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 -439,148 contracts in the data reported through Tuesday July 10th. This was a weekly rise of 60,928 contracts from the previous week which had a total of -500,076 net contracts.
Speculative bearish positions retreated this week after surging to a record bearish level last week that marked the first time bearish positions had pierced the -500,000 contract level. The overall net position level is above the -400,000 contract standing for a second straight week and for the fourth week out of the past ten.
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 614,541 contracts on the week. This was a weekly loss of -53,927 contracts from the total net of 668,468 contracts reported the previous week.
IEF ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $102.27 which was a decrease of $-0.24 from the previous close of $102.51, according to unofficial market data.
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