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 -142,271 contracts in the data reported through Tuesday, May 5th. This was a weekly change of -92,847 net contracts from the previous week which had a total of -49,424 net contracts.
The week’s net position was the result of the gross bullish position (longs) sliding by -8,840 contracts (to a weekly total of 574,969 contracts) while the gross bearish position (shorts) jumped by 84,007 contracts for the week (to a total of 717,240 contracts).
The 10-Year speculative level saw higher bearish bets for a second straight week and for the fourth time in the past five weeks. This week’s boost was the largest rise in weekly bearish positions in the last 26 weeks. The overall spec position had previously fallen to a total of just -34,098 contracts (the least bearish level of past 123 weeks) on April 21st but has now jumped back to a total of -142,271 contracts. This current level marks the most bearish point in six weeks.
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 90,098 contracts on the week. This was a weekly rise of 96,409 contracts from the total net of -6,311 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 $138.85 which was a drop of $-0.15 from the previous close of $139.01, according to unofficial market data.