Weekly Large Trader COT Report: 10 Year US Treasury Note
CFTC Futures data shows speculators raised bullish bets to +68,087 contracts
10 Year Treasury Note Non-Commercial Positions:
Large 10-year treasury note futures traders and speculators added to their existing bullish positions last week to maintain an overall bullish sentiment for a third straight 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 the 10-year treasury notes, primarily traded by large speculators and hedge funds, totaled a net position of +68,087 contracts in the data reported for March 8th. This was a weekly change of +65,533 net contracts from the previous week’s total of +2,554 net contracts that was recorded on March 1st.
For the week, the overall standing long positions in 10-year futures increased by +35,410 contracts and combined with a decline in the short positions by -30,123 contracts to register the overall net change of +65,533 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) sentiment turned into an overall bearish position at a total net position of -3,847 contracts through March 8th. This is a weekly change of -53,519 contracts from the total net position of +49,672 contracts on March 1st.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday March 1st to Tuesday March 8th, the 7-10 Year Treasury Bond ETF dipped ever so slightly from 109.55 to 109.53, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (NYSE: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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
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