US 10-Year Treasury Note Speculators Sharply Cut Bearish Positions
Zachary Storella | Feb 24, 2014 12:38AM ET
Weekly CFTC Net Speculator Report
Large Speculators bearish positions fall to lowest level since January 14th
10 Year Treasuries: Large futures market traders sharply decreased their overall bearish positions in the 10-year treasury note futures last week to the lowest level in over four weeks, 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 the 10-year treasury notes, traded by large speculators and hedge funds, totaled a net position of -57,144 contracts in the data reported for February 18th. This was a change of +85,389 contracts from the previous week’s total of -142,533 net contracts that was registered on February 11th. This latest data brings bearish contracts of the 10-year note to the lowest level since January 14th when contracts were -50,790.
Over the same reporting time-frame, from Tuesday February 11th to Tuesday February 18th, the yield on the 10-Year treasury note edged lower from 2.75 to a yield of 2.71, according to data from the United States Treasury Department.
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*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).
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