10-Year Note Non-Commercial Speculator Positions:
Large bond speculators continued to cut back on 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 -284,223 contracts in the data reported through Tuesday November 27th. This was a weekly change of 83,042 net contracts from the previous week which had a total of -367,265 net contracts.
This week’s net position was the result of the gross bullish position tumbling by -33,711 contracts to a weekly total of 581,130 contracts compared to the gross bearish position which saw a decrease by -116,753 contracts for the week to a total of 865,353 contracts.
The speculative position has been strongly shedding bearish positions since reaching an all-time record high bearish position on September 25th with -756,316 contracts. The current standing is now below the -300,000 net contract level for the first time since March 13th.
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 420,922 contracts on the week. This was a weekly decline of -39,693 contracts from the total net of 460,615 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 $119.10 which was a fall of $-0.06 from the previous close of $119.17, according to unofficial market data.