Weekly Large Trader COT Report: 10 Year US Treasury Note
CFTC Futures data shows speculators reduced long bets, raised short bets last week
10 Year Treasury Note Non-Commercial Positions:
Large 10-year treasury note futures traders and speculators reduced their overall bets in 10-year note futures to a new net bearish position last week after being net bullish the previous two 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, primarily traded by large speculators and hedge funds, totaled a net position of -24,549 contracts in the data reported for December 8th. This was a weekly change of -40,068 net contracts from the previous week’s total of +15,519 net contracts that was recorded on December 1st.
For the week, the overall standing long positions in 10-year futures fell by -24,621 contracts and combined with a rise in the short positions by 15,447 contracts to register the overall net change of -40,068 contracts for the week.
10 Year US Treasury Note Commercial Positions:
In the commercial positions for the 10-year note on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) increased their overall bullish positions to a total net position of +189,267 contracts through December 8th. This is a weekly change of +49,319 contracts from the total net position of +139,948 contracts on December 1st.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday December 1st to Tuesday December 8th, the 7-10 Year Treasury Bond ETF edged lower from 106.80 to 106.17, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (N:IEF).
*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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