By CountingPips.com | Weekly Large Trader COT Report: 10 Year US Treasury Note
CFTC Futures data shows speculators resume bearish net position
10 Year Treasury Note Non-Commercial Positions:
Large 10-year treasury note futures traders and speculators cut their overall positions last week to a new bearish net position after one week in bullish territory, 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 the 10-year treasury notes, primarily traded by large speculators and hedge funds, totaled a net position of -37,813 contracts in the data reported for October 20th. This was a weekly change of -55,505 net contracts from the previous week’s total of +17,692 net contracts that was recorded on October 13th.
For the week, the overall standing long positions in 10-year futures fell by -17,937 contracts and combined with a rise in the short positions by 37,568 contracts to register the overall net change of -55,505 contracts for the week.
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The speculative net position is the most bearish since September 15th 2015 when net bearish positions equaled -39,478 contracts.
10 Year US Treasury Note Commercial Positions:
In the commercial positions for the 10-year note on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) raised their overall bullish positions to a total net position of +101,746 contracts through October 20th. This is a weekly change of +50,498 contracts from the total net position of +51,248 contracts on October 13th.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday October 13th to Tuesday October 20th, the 7-10 Year Treasury Bond ETF dipped from 107.90 to 107.61, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (IEF).
Last 6 Weeks of Large Trader Positions
| Date | Open Interest | Change OI | Net Commercial Positions | Weekly Com Changes | Net Large Specs Positions | Weekly Spec Changes |
| 20150915 | 2731653 | -44899 | 138331 | 10264 | -39478 | -15552 |
| 20150922 | 2644568 | -87085 | 93345 | -44986 | -8529 | 30949 |
| 20150929 | 2753639 | 109071 | 47914 | -45431 | 22490 | 31019 |
| 20151006 | 2769936 | 16297 | 68049 | 20135 | -2543 | -25033 |
| 20151013 | 2794144 | 24208 | 51248 | -16801 | 17692 | 20235 |
| 20151020 | 2775372 | -18772 | 101746 | 50498 | -37813 | -55505 |
*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading 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
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