Speculators Bullish For 2nd Week On 10-Years
Zachary Storella | May 21, 2017 09:25AM ET
10 Year Treasury Note Non-Commercial Positions:
Large speculators boosted their bullish net positions in the 10-Year treasury note futures markets for a second straight week last 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 treasury note futures, traded by large speculators and hedge funds, totaled a net position of 240,010 contracts in the data reported through May 16th. This was a weekly gain of 10,891 contracts from the previous week which had a total of 229,119 net contracts.
Speculative positions have risen four out of the past five weeks and are now at the highest bullish level since 2007.
10 Year Treasury Note Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -41,248 contracts last week. This is a weekly decline of -16,740 contracts from the total net of -24,508 contracts reported the previous week.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (NYSE:IEF) closed at approximately $106.26 which was a gain of $0.65 from the previous close of $105.61, according to ETF market data.
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