01 Dec

10-Year Note Speculators continued to drop their bearish bets this week

December 1, 2018

December 1st 2018 – By CountingPips.com – Receive our weekly COT Reports by Email

10-Year Note Non-Commercial Speculator Positions:

Large bond speculators continued to cut back on 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 -284,223 contracts in the data reported through Tuesday November 27th. This was a weekly change of 83,042 net contracts from the previous week which had a total of -367,265 net contracts.

This week’s net position was the result of the gross bullish position tumbling by -33,711 contracts to a weekly total of 581,130 contracts compared to the gross bearish position which saw a decrease by -116,753 contracts for the week to a total of 865,353 contracts.

The speculative position has been strongly shedding bearish positions since reaching an all-time record high bearish position on September 25th with -756,316 contracts. The current standing is now below the -300,000 net contract level for the first time since March 13th.

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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 420,922 contracts on the week. This was a weekly decline of -39,693 contracts from the total net of 460,615 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 $119.10 which was a fall of $-0.06 from the previous close of $119.17, 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).

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