By CountingPips.com
Weekly CFTC Net Speculator Report
Large Speculators bearish positions increased sharply last week
10 Year Treasuries: Large futures market traders sharply increased their overall bearish bets in the 10-year treasury note futures last week after two weeks of declining bearish positions, 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, traded by large speculators and hedge funds, totaled a net position of -101,370 contracts in the data reported for March 4th. This was a change of -88,403 contracts from the previous week’s total of -12,967 net contracts that was registered on February 25th.
This latest jump in bearish positions brings net contracts of the 10-year note to the highest level since February 11th when contracts were at -142,533 positions. Declines in bearish positions the previous two weeks had brought net contracts to their lowest level since July 2013 before last week’s turnaround.
Over the same reporting time-frame, from Tuesday February 25th to Tuesday March 4th, the yield on the 10-Year treasury note notched the same level at a yield of 2.70, according to data from the United States Treasury Department.
Last 6 Weeks of Large Trader Non-Commercial Positions
| Date | Open Interest | Long Specs | Short Specs | Net Large Specs | Weekly Change | 10 Year Yield |
| 01/28/2014 | 2334109 | 298913 | 416672 | -117759 | -59368 | 2.77 |
| 02/04/2014 | 2382511 | 308867 | 444168 | -135301 | -17542 | 2.64 |
| 02/11/2014 | 2410966 | 322845 | 465378 | -142533 | -7232 | 2.75 |
| 02/18/2014 | 2430028 | 380817 | 437961 | -57144 | 85389 | 2.71 |
| 02/25/2014 | 2513746 | 333437 | 346404 | -12967 | 44177 | 2.7 |
| 03/04/2014 | 2407282 | 312136 | 413506 | -101370 | -88403 | 2.7 |
*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).
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