10-Year Note Speculators Dropped Bearish Bets To Lowest Level In 123 Weeks

in #bonds4 years ago

10 Yr Note COT Futures Large Trader Positions 10 Yr Note COT Futures Large Trader Positions

10-YEAR NOTE NON-COMMERCIAL SPECULATOR POSITIONS:
Large bond speculators reduced 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 -34,098 contracts in the data reported through Tuesday, April 21st. This was a weekly change of 36,700 net contracts from the previous week which had a total of -70,798 net contracts.

The week’s net position was the result of the gross bullish position (longs) going up by 27,520 contracts (to a weekly total of 578,737 contracts) while the gross bearish position (shorts) fell by -9,180 contracts for the week (to a total of 612,835 contracts).

Speculators cut back on their bearish bets this week following two weeks of small gains in the bearish positions. The net position is now at the least bearish level since December 12th of 2017 when the net position was in positive territory and totaled +44,741 contracts (a span of 123 weeks). The current sentiment level (-34,098 contracts) is effectively a neutral position in the big picture and down from a total bearish position of -251,113 contracts just six weeks ago.

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 -15,384 contracts on the week. This was a weekly drop of -41,339 contracts from the total net of 25,955 contracts reported the previous week.

10 Yr Note - COT Futures Large Trader Positions 10 Yr Note - COT Futures Large Trader Positions

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 $139.39 which was a gain of $1.17 from the previous close of $138.21, according to unofficial market data.

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