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10-Year Note Non-Commercial Speculator Positions:
Large bond speculators increased 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 -371,689 contracts in the data reported through Tuesday April 17th. This was a weekly lowering of -41,054 contracts from the previous week which had a total of -330,635 net contracts.
Speculative bearish positions have risen for two out of the past three weeks and for three out of the past five weeks as sentiment for bonds remains weak. The overall bearish level remains above the -300,000 contract standing for a fifth consecutive 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 543,822 contracts on the week. This was a weekly boost of 7,844 contracts from the total net of 535,978 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 $102.59 which was a fall of $-0.17 from the previous close of $102.76, 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