10-Year Note Non-Commercial Speculator Positions:
Large bond speculators increased their bullish 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 6,516 contracts in the data reported through Tuesday June 23rd. This was a weekly gain of 17,401 net contracts from the previous week which had a total of -10,885 net contracts.
The week’s net position was the result of the gross bullish position (longs) advancing by 17,883 contracts (to a weekly total of 686,764 contracts) while the gross bearish position (shorts) rose by just 482 contracts for the week (to a total of 680,248 contracts).
10-Year Note speculators flipped their bets back into a bullish position this week. Two weeks ago on June 9th, the speculative position rose into a net bullish position for the first time since December of 2017 while last week saw a relapse back into a small bearish level. In the big picture, these small bullish or bearish levels are essentially a neutral stance among the speculators for the time being.
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 -33,408 contracts on the week. This was a weekly decline of -16,682 contracts from the total net of -16,726 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 $138.75 which was a drop of $-0.04from the previous close of $138.79, according to unofficial market data.