10-Year Note Speculators Sharply Cut Back On Their Record Bearish Bets
Zachary Storella | Jun 10, 2018 02:33AM ET
US 10 Year Note Non-Commercial Speculator Positions:
Large bonds speculators sharply decreased 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 -397,546 contracts in the data reported through Tuesday June 5th. This was a weekly advance of 73,521 contracts from the previous week which had a total of -471,067 net contracts.
Speculative bearish bets fell by the most in twelve weeks this week after surging to a new bearish record high last week. The bearish net position, despite a record high last week, has fallen for five out of the past six weeks and fell back under the -400,000 net contract level this 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 580,450 contracts on the week. This was a weekly decline of -118,733 contracts from the total net of 699,183 contracts reported the previous week.
iShares 7-10 Year Treasury Bond (NASDAQ:IEF):
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $101.83 which was a decline of $-1.17 from the previous close of $103.00, according to unofficial market data.
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