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10 Year Treasury Note Non-Commercial Positions:
Large speculators and traders reduced their bearish net positions in the 10-year treasury note futures markets last week for the first time in four weeks, 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 -375,736 contracts in the data reported through January 17th. This was a weekly change of 18,953 contracts from the previous week which had a total of -394,689 net contracts.
The decline in the bearish positioning of the speculators brings them off their record short position of almost -400,000 contracts (actual of -394,689 contracts) that was set the previous week on January 10th.
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 593,813 contracts last week. This is a weekly change of -50,746 contracts from the total net of 644,559 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 $105.92 which was a change of $0.48 from the previous close of $105.44, according to ETF market data.
*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
