10-Year Note Speculators trimmed their bearish net positions this week

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10-Year Note Non-Commercial Speculator Positions:

Large Treasury Note speculators cut back on 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 -75,840 contracts in the data reported through Tuesday January 2nd. This was a weekly rise of 7,826 contracts from the previous week which had a total of -83,666 net contracts.

Speculative positions improved this week although remain in an overall bearish position for a third straight week. Net positions for speculators had been in bullish territory for thirty-five straight weeks before turning bearish on December 19th.

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 292,210 contracts on the week. This was a weekly boost of 17,284 contracts from the total net of 274,926 contracts reported the previous week.

IEF ETF:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $105.22 which was an uptick of $0.14 from the previous close of $105.08, 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).

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