10 Year Treasury Note Non-Commercial Positions:
Large speculators sharply decreased their bearish net positions in the 10-year treasury note futures markets last week just one week after significantly boosting those bearish positions to a new record high level, 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 -298,514 contracts in the data reported through March 7th. This was a weekly change of 111,145 contracts from the previous week which had a total of -409,659 net contracts.
Speculative positions, having come off the record bearish position, are now under the -300,000 level for the first time since January 24th.
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 position of 525,309 contracts last week. This is a weekly fall of -69,402 contracts from the total net of 594,711 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 $104.4 which was a decline of $-1.25 from the previous close of $105.65, 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
