US 10-Year Treasury Note Speculators bearish bets declined sharply last week

By CountingPips.com

Weekly CFTC Net Speculator Report




10year



10 Year Treasuries: Large speculators and futures market traders decreased their overall bearish positions in the 10-year treasury note futures by the most since the beginning of October, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday.

The non-commercial futures contracts of the 10-year treasury notes, traded by large speculators and hedge funds, totaled a net position of -105,768 contracts in the data reported for December 24th. This was a change of +49,441 contracts from the previous week’s total of -155,209 net contracts that was recorded on December 17th. The +49,441 change was the largest weekly gain in positions since October 1st when 10-Year bets registered a weekly change of +60,571 contracts and now overall net positions are at the least bearish level since October 15th when net positions totaled -99,788 contracts.

Over the same reporting time-frame, from Tuesday December 17th to Tuesday December 24th, the yield on the 10-Year treasury note increased from 2.85 to a yield of 2.99, according to data from the United States Treasury Department.


Last 6 Weeks of Large Trader Non-Commercial Positions

Date Net Large Specs Weekly Change 10 Year Yield
11/19/2013 -180363 716 2.71
11/26/2013 -155554 24809 2.71
12/03/2013 -167360 -11806 2.79
12/10/2013 -150029 17331 2.81
12/17/2013 -155209 -5180 2.85
12/24/2013 -105768 49441 2.99



*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading 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).




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