By CountingPips.com | Weekly Large Trader COT Report: 10 Year US Treasury Note
CFTC Futures data shows speculators sharply raised bearish bets
10 Year Treasury Note Non-Commercial Positions:
Large 10-year treasury note futures traders and speculators boosted their overall bearish positions last week to the most bearish level since 2015, 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 -140,962 contracts in the data reported for May 31st. This was a weekly change of -60,710 net contracts from the previous week’s total of -80,252 net contracts that was recorded on May 24th.
For the week, the overall standing long positions in 10-year futures dropped by -59,657 contracts and combined with a small rise in the short positions of 1,053 contracts to register the overall net change of -60,710 contracts for the week.
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The gain in the net bearish positions put the speculative level at its most bearish state since November 3rd of 2015 when positions equaled -164,264 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 +213,596 contracts through May 31st. This is a weekly change of +25,061 contracts from the total net position of +188,535 contracts on May 24th.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday May 24th to Tuesday May 31st, the 7-10 Year Treasury Bond ETF edged higher from 109.52 to 109.73, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (IEF).
Last 6 Weeks of Large Trader Positions
| Date | Net Commercial Positions | Weekly Com Changes | Net Large Specs Positions | Weekly Spec Changes |
| 20160426 | 146342 | 71624 | -63775 | -39496 |
| 20160503 | 164108 | 17766 | -82020 | -18245 |
| 20160510 | 158489 | -5619 | -79260 | 2760 |
| 20160517 | 178395 | 19906 | -112328 | -33068 |
| 20160524 | 188535 | 10140 | -80252 | 32076 |
| 20160531 | 213596 | 25061 | -140962 | -60710 |
*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
