By CountingPips.com | Weekly Large Trader COT Report: 10 Year US Treasury Note
CFTC Futures data shows speculators cut longs and added to shorts
10 Year Treasury Note Non-Commercial Positions:
Large 10-year treasury note futures traders and speculators cut back on their 10-year positions last week and registered a new overall bearish position for the first time since late December, 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 -43,236 contracts in the data reported for January 12th. This was a weekly change of -61,522 net contracts from the previous week’s total of +18,286 net contracts that was recorded on January 5th.
For the week, the overall standing long positions in 10-year futures fell by -40,433 contracts and combined with a rise in the short positions of 21,089 contracts to register the overall net change of -61,522 contracts for the week.
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10-year note positions are now in net bearish territory for the first time since December 22nd, 2015 when net positions equaled -12,210 contracts.
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) added to their overall bullish positions to a total net position of +201,803 contracts through January 12th. This is a weekly change of +70,827 contracts from the total net position of +130,976 contracts on January 5th.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday January 5th to Tuesday January 12th, the 7-10 Year Treasury Bond ETF gained from 106.01 to 107.29, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (IEF).
Last 6 Weeks of Large Trader Positions
| Date | Open Interest | Change OI | Net Commercial Positions | Weekly Com Changes | Net Large Specs Positions | Weekly Spec Changes |
| 20151208 | 2686036 | -94772 | 189267 | 49319 | -24549 | -40068 |
| 20151215 | 2595602 | -90434 | 141996 | -47271 | -11443 | 13106 |
| 20151222 | 2496673 | -98929 | 144101 | 2105 | -12210 | -767 |
| 20151229 | 2487067 | -9606 | 107049 | -37052 | 42981 | 55191 |
| 20160105 | 2534485 | 47418 | 130976 | 23927 | 18286 | -24695 |
| 20160112 | 2651078 | 116593 | 201803 | 70827 | -43236 | -61522 |
*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).
Article by CountingPips.com
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