Weekly CFTC COT Net Speculator Report
Large Speculators net bearish positions fall to lowest level since May 27th
10 Year Treasuries: Large futures market speculators decreased their net bearish bets in the U.S. 10-Year Treasury note futures last week after bearish positions had risen for the previous three weeks, 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 -27,292 contracts in the data reported for June 24th. This was a change of +58,538 net contracts from the previous week’s total of -85,830 net contracts that was recorded on June 17th.
For the week, long positions rose by 37,024 contracts while short positions declined by 21,514 contracts to register an overall net change of +58,538 contracts on the week. The decline in the 10-Year Note positions brings bearish positions to the lowest overall level since May 27th when net positions were short by just 19,078 contracts.
Over the weekly reporting time-frame, from Tuesday June 17th to Tuesday June 24th, the yield on the 10-Year Treasury note fell lower from 2.66 percent to 2.59 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).