10 Year Note Non-Commercial Speculator Positions:
Large bond speculators reduced their bearish net positions in the 10-Year Note futures markets again 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 -408,629 contracts in the data reported through Tuesday May 8th. This was a weekly gain of 37,049 contracts from the previous week which had a total of -445,678 net contracts.
Speculative bearish positions have fallen for two weeks by a total of +53,504 contracts following the record high bearish position that was reached on April 24th. The overall speculator level remains highly bearish and above the -400,000 net contract level for a third consecutive week.
10-Year Note Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 639,852 contracts on the week. This was a weekly decrease of -19,556 contracts from the total net of 659,408 contracts reported the previous week.
iShares 7-10 Year Treasury Bond ETF (NASDAQ:IEF):
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $101.42 which was a tick higher by $0.07 from the previous close of $101.35, according to unofficial market data.