10-Year Note Non-Commercial Speculator Positions:
Large bond speculators decreased their bearish net positions in the 10-Year Note futures markets for the first time in three 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 10-Year Note futures, traded by large speculators and hedge funds, totaled a net position of -148,794 contracts in the data reported through Tuesday, November 12th. This was a weekly change of 82,662 net contracts from the previous week which had a total of -231,456 net contracts.
The week’s net position was the result of the gross bullish position (longs) lowering by -958 contracts (to a weekly total of 652,312 contracts) while the gross bearish position (shorts) fell by -83,620 contracts for the week (to a total of 801,106 contracts).
The 10-year speculators reduced their bearish positions after two weeks of strong gains in bearish bets that had pushed the overall standing to the most bearish in eight weeks. Following this latest decline, the bearish net position (currently -148,794 contracts) is back under the -200,000 contract level for the fourth time in the past five weeks and well under the 2019 average position level of -262,602 contracts.
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 188,050 contracts on the week. This was a weekly fall of -52,071 contracts from the total net of 240,121 contracts reported the previous week.
10-Year Note Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 10-Year Note Futures (Front Month) closed at approximately $128.50 which was a drop of $-0.42 from the previous close of $128.92, according to unofficial market data.