By CountingPips.com
Weekly CFTC COT Net Speculator Report | 10 Year US Treasury Note
CFTC Futures data shows speculators pushed bearish bets to highest level in 4 years
10 Year Treasuries: Large 10-Year Note futures traders sharply added to their overall bearish bets last week for a third week as bearish positions have risen to the largest bearish position in over four years, 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 -258,250 contracts in the data reported for December 16th. This was a weekly change of -56,915 net contracts from the previous week’s total of -201,335 net contracts that was recorded on December 9th.
For the week, the overall standing long positions in 10-year futures fell by 32,335 contracts and combined with a sharp rise in short positions by 24,580 contracts to register the overall net change of -56,915 contracts for the week.
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Bearish positions have now reached their highest level since May of 2010, according to Reuters research.
Over the weekly reporting time-frame, from Tuesday December 9th to Tuesday December 16th, the yield on the 10-Year treasury note declined from 2.22 percent to 2.07 percent, according to data from the United States Treasury Department.
Last 6 Weeks of Large Trader Non-Commercial Positions
| Date | Open Interest | Long Specs | Short Specs | Net Large Specs | Weekly Change | 10 Year Yield |
| 11/11/2014 | 2786466 | 390566 | 503024 | -112458 | -65172 | 2.38 |
| 11/18/2014 | 2902018 | 398903 | 526231 | -127328 | -14870 | 2.32 |
| 11/25/2014 | 3032735 | 386471 | 461798 | -75327 | 52001 | 2.27 |
| 12/02/2014 | 2670284 | 344423 | 506947 | -162524 | -87197 | 2.28 |
| 12/09/2014 | 2628838 | 305733 | 507068 | -201335 | -38811 | 2.22 |
| 12/16/2014 | 2693428 | 273398 | 531648 | -258250 | -56915 | 2.07 |
*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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