10-Year Note Non-Commercial Speculator Positions:
Large treasury bond speculators reduced their bearish net positions in the 10-Year Note futures markets again 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 -381,922 contracts in the data reported through Tuesday May 15th. This was a weekly rise of 26,707 contracts from the previous week which had a total of -408,629 net contracts.
Speculators have reduced their bearish bets by a total of 80,211 contracts over the past three weeks. The decline in bearish sentiment follows a run up to the record high bearish position that took place on April 24th with a total bearish standing of -462,133 contracts.
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 616,983 contracts on the week. This was a weekly decline of -22,869 contracts from the total net of 639,852 contracts reported the previous week.
IEF ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the iShares 7-10 Year Treasury Bond (NASDAQ:IEF) closed at approximately $100.63 which was a decrease of $-0.79 from the previous close of $101.42, according to unofficial market data.