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10-Year Note Non-Commercial Speculator Positions:
Large treasury speculators boosted their net positions in the 10-Year Note futures markets last week following a deep decline the previous week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday due to the Veteran’s Day holiday.
The non-commercial futures contracts of 10-Year Note futures, traded by large speculators and hedge funds, totaled a net position of 50,063 contracts in the data reported through Tuesday November 7th. This was a weekly lift of 47,339 contracts from the previous week which had a total of 2,724 net contracts.
Speculative positions had dropped by -150,873 contracts the previous week before rebounding last week while the net bullish level remains under the +100,000 standing for a second week.
10-Year Note Commercial Positions:
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The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 195,713 contracts on the week. This was a weekly decrease of -59,360 contracts from the total net of 255,073 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $106.55 which was a rise of $0.55 from the previous close of $106.00, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures 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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article By CountingPips.com – Receive our weekly COT Reports by Email