March 16th – By CountingPips.com – Receive our weekly COT Reports by Email
10-Year Note Non-Commercial Speculator Positions:
Large bond speculators decreased their bearish net positions in the 10-Year Note futures markets this week, 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 Note futures, traded by large speculators and hedge funds, totaled a net position of -176,434 contracts in the data reported through Tuesday March 12th. This was a weekly change of 56,942 net contracts from the previous week which had a total of -233,376 net contracts.
The week’s net position was the result of the gross bullish position (longs) gaining by 81,978 contracts to a weekly total of 636,459 contracts that overcame the gross bearish position (shorts) which saw a gain by 25,036 contracts for the week to a total of 812,893 contracts.
The strong paring of bearish positions this week follows a small decrease last week and brings the overall speculator position back under the -200,000 contract level for the first time in a month. This week’s 56,942 contract change is the largest since January 8th when spec positions rose by 120,219 contracts.
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10-Year Note Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 124,729 contracts on the week. This was a weekly shortfall of -77,383 contracts from the total net of 202,112 contracts reported the previous week.
10-Year Note Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 10-Year Note Futures (Front Month) closed at approximately $122.87 which was a rise of $1.00 from the previous close of $121.87, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent 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 – Receive our weekly COT Reports by Email
