By CountingPips.com | Weekly Large Trader COT Report: 10 Year US Treasury Note
CFTC Futures data shows speculators raised bullish bets
10 Year Treasury Note Non-Commercial Positions:
Large 10-year treasury note futures traders and speculators boosted their net bullish positions last week for a second consecutive week and for the fifth out of the last six weeks, 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 the 10-year treasury notes, primarily traded by large speculators and hedge funds, totaled a net position of +131,361 contracts in the data reported for July 12th. This was a weekly change of +35,252 net contracts from the previous week’s total of +96,109 net contracts that was recorded on July 5th.
Speculator positions have now been on the bullish side for six straight weeks after turning bullish on June 7th.
10 Year US Treasury Note Commercial Positions:
In the commercial positions for the 10-year note on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) increased their overall bearish positions to a total net position of -106,268 contracts through July 12th. This is a weekly change of -65,408 contracts from the total net position of -40,860 contracts on July 5th.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday July 5th to Tuesday July 12th, the 7-10 Year Treasury Bond ETF edged lower from 113.71 to 112.53, according to ETF data for the iShares 7-10 Year Treasury Bond ETF (IEF).
*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).
Article by CountingPips.com