10-Year Note Non-Commercial Speculator Positions:
Large bond speculators decreased their 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 -10,885 contracts in the data reported through Tuesday, June 16th. This was a weekly change of -13,139 net contracts from the previous week which had a total of 2,254 net contracts.
The week’s net position was the result of the gross bullish position (longs) lowering by -32,665 contracts (to a weekly total of 668,881 contracts) while the gross bearish position (shorts) fell by a lesser amount by -19,526 contracts for the week (to a total of 679,766 contracts).
10-Year Note speculators reduced their positions this week and dropped the overall net position back into a bearish level. Last week (+2,254 contracts) was the first time since December 12th of 2017 that the overall net position was in positive territory, a span of 130 weeks. Overall, this week’s data shows that the speculators and the commercials are currently in neutral positioning for the 10-Year with an uncertain outlook.
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 -16,726 contracts on the week. This was a weekly loss of -9,425 contracts from the total net of -7,301 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 $138.79 which was a gain of $0.64 from the previous close of $138.15, according to unofficial market data.