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10 Year Treasury Note Non-Commercial Positions:
Large speculators and traders sharply decreased their net positions in the 10-year treasury note futures markets last week for a second consecutive week and to the largest bearish position in almost a year, 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 treasury note futures, traded by large speculators and hedge funds, totaled a net position of -228,604 contracts in the data reported through December 6th. This was a weekly drop of -132,337 contracts from the previous week which had seen a total of -96,267 net contracts.
10-year note speculative positions have now fallen to their largest bearish level since January 6th 2015 when net positions equaled -243,180 contracts.
10 Year Treasury Note Commercial Positions:
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The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 434,578 contracts last week. This is a weekly rise of 137,842 contracts from the total net of 296,736 contracts reported the previous week.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $105.18 which was a change of $-0.79 from the previous close of $105.97, according to market data from Yahoo Finance.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the previous 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).
Article by CountingPips.com
