10Y Note Speculators Slightly Trim Bearish Bets Off Record High Level
Zachary Storella | Oct 07, 2018 03:47AM 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 -740,192 contracts in the data reported through Tuesday October 2nd. This was a weekly gain of 16,124 contracts from the previous week which had a total of -756,316 net contracts.
The speculative bearish position fell slightly this week after surging to a record high bearish level last week over the -750,000 contract level. The current standing remains over the -740,000 contract threshold for a second week and is over the -680,000 net contract level for the fifth straight 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 812,324 contracts on the week. This was a weekly loss of -34,369 contracts from the total net of 846,693 contracts reported the previous week.
10-Year Note Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 10-Year Note Futures (Front Month) closed at approximately $118.813 which was a boost of $0.36 from the previous close of $118.453, according to unofficial market data.
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