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Large Speculators' net bearish positions rise to highest level since May 20th at -96,772 contracts
U.S. 10-Year Treasuries: Large futures market speculators increased net bearish bets in the 10-year Treasury note futures last week for a second week in a row and to the highest bearish level since May 20th, 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 -96,772 contracts in the data reported for July 8th. This was a change of -27,414 net contracts from the previous week’s total of -69,358 net contracts that was recorded on July 1st.
For the week, long positions in 10 Year futures fell by 27,812 contracts while the short positions declined by just 398 contracts to register an overall net change in of -27,414 contracts on the week. Non-commercial net positions are now at the most bearish level since May 20th when net positions totaled -97,895 contracts.
Over the weekly reporting time-frame, from Tuesday July 1st to Tuesday July 8th, the yield on the 10-Year Treasury note closed at the same level of 2.58 percent, according to data from the United States Treasury Department.
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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