10-Year Note Speculators Pared Their Bearish Net Positions For 4th Week
Zachary Storella | May 27, 2018 02:01AM ET
10-Year Note Non-Commercial Speculator Positions:
Large bond speculators cut back on their bearish net positions in the US 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 -358,627 contracts in the data reported through Tuesday May 22nd. This was a weekly rise of 23,295 contracts from the previous week which had a total of -381,922 net contracts.
Speculative bearish positions have fallen for four consecutive weeks and by a total of +103,506 net contracts after touching a record high bearish position on April 24th. The overall bearish net position is at the least bearish standing since April 10th when net positions totaled -330,635 contracts.
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 630,213 contracts on the week. This was a weekly gain of 13,230 contracts from the total net of 616,983 contracts reported the previous week.
iShares 7-10 Year Treasury Bond (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 $100.78 which was an uptick of $0.15 from the previous close of $100.63, according to unofficial market data.
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