Weekly Large Trader COT Report: 10 Year US Treasury Note
CFTC Futures data shows speculators now in small bearish position
10 Year Treasury Note Non-Commercial Positions:
Large 10-year treasury note futures traders and speculators cut their bets for the 10-year notes last week and overall positions are now back on the bearish side after a 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 -2,543 contracts in the data reported for October 6th. This was a weekly change of -25,033 net contracts from the previous week’s total of +22,490 net contracts that was recorded on September 29th.
For the week, the overall standing long positions in 10-year futures fell by -7,685 contracts and combined with a rise in the short positions by +17,348 contracts to register the overall net change of -25,033 contracts for the week.
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) added to their overall bullish positions to a total net position of +68,049 contracts through October 6th. This is a weekly change of +20,135 contracts from the total net position of +47,914 contracts on September 29th.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday September 29th to Tuesday October 6th, the 7-10 Year Treasury Bond ETF edged slightly higher from 107.85 to 107.93, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (N:IEF).
*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).
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