March 9th – By CountingPips.com – Receive our weekly COT Reports by Email
10-Year Note Non-Commercial Speculator Positions:
Large bond speculators very slightly edged their bearish net positions lower 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 latest COT data is now up to date after delays in previous weeks due to the government shutdown.
The non-commercial futures contracts of 10-Year Note futures, traded by large speculators and hedge funds, totaled a net position of -233,376 contracts in the data reported through Tuesday March 5th. This was a weekly increase of 619 net contracts from the previous week which had a total of -233,995 net contracts.
The week’s net position was the result of the gross bullish position (longs) sinking by -107,881 contracts to a weekly total of 554,481 contracts but was offset by the gross bearish position (shorts) which saw a decline by -108,500 contracts for the week to a total of 787,857 contracts.
The net speculative position had seen increasing bearish bets in the previous five weeks before this week’s edge higher. The current standing remains above the -200,000 net contract level for a third consecutive week after spending six straight weeks below this level into early February.
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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 202,112 contracts on the week. This was a weekly increase of 24,067 contracts from the total net of 178,045 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 $121.87 which was a decline of $-0.80 from the previous close of $122.67, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets.
The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).
Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article By CountingPips.com – Receive our weekly COT Reports by Email