10 Year Treasury Note Non-Commercial Positions:
Large speculators and traders sharply raised their net bearish positions in the 10-year treasury note futures markets last week to a new record high position, 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 -409,659 contracts in the data reported through February 28th. This was a weekly change of -107,360 contracts from the previous week which had a total of -302,299 net contracts.
Speculative net bearish positions have now eclipsed their previous record of -394,689 contracts recorded on January 10th.
10 Year Treasury Note Commercial Positions:
Free Reports:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net bullish position of 594,711 contracts last week. This is a weekly rise of 75,730 contracts from the total net of 518,981 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $105.65 which was a gain of $0.51 from the previous close of $105.14, 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
