By CountingPips.com
Weekly CFTC Net Speculator Report
Large Speculators bearish positions fall to lowest level since January 14th
10 Year Treasuries: Large futures market traders reduced their overall bearish bets in the 10-year treasury note futures last week for the first time in three weeks and to the lowest level in two months, 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 -55,014 contracts in the data reported for March 18th. This was a change of +63,196 contracts from the previous week’s total of -118,210 net contracts that was recorded on March 11th.
Last week’s reduction in bearish positions brought overall net large spec positions in the 10-year note to the lowest level since January 14th when positions were at a total of -50,790 contracts.
Over the same weekly reporting time-frame, from Tuesday March 11th to Tuesday March 18th, the yield on the 10-Year treasury note dipped from 2.77 to a yield of 2.68, 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 |
| 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 |
| 03/11/2014 | 2412737 | 301102 | 419312 | -118210 | -16840 | 2.77 |
| 03/18/2014 | 2441194 | 360226 | 415240 | -55014 | 63196 | 2.68 |
*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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