August 18th – By CountingPips.com – Receive our weekly COT Reports by Email
10-Year Note Non-Commercial Speculator Positions:
Large bond speculators once again increased 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 -414,346 contracts in the data reported through Tuesday August 13th. This was a weekly change of -23,460 net contracts from the previous week which had a total of -390,886 net contracts.
The week’s net position was the result of the gross bullish position (longs) lowering by -23,062 contracts (to a weekly total of 635,384 contracts) while the gross bearish position (shorts) increased by just 398 contracts for the week (to a total of 1,049,730 contracts).
The large speculators kept on raising their bearish bets for a fifth straight week this week and by a total of -125,510 contracts over that time-frame. Speculators have been consistently bearish on the 10-year note all year and continue to bet against the price trend of the 10-year note. The price has sharply risen higher since November while the 10-year yield has fallen to approximately 1.55 percent.
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 331,680 contracts on the week. This was a weekly increase of 10,267 contracts from the total net of 321,413 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 $130.42 which was an increase of $0.10 from the previous close of $130.31, 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