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10 Year Treasury Note Non-Commercial Positions:
Large speculators decreased their bearish net positions in the 10-year treasury note futures markets last week for the fifth consecutive 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 treasury note futures, traded by large speculators and hedge funds, totaled a net position of -55,766 contracts in the data reported through April 4th. This was a weekly change of 13,653 contracts from the previous week which had a total of -69,419 net contracts.
Speculators have reduced their net short position by over 350,000 contracts after registering a record high bearish position on February 28th and now have the smallest bearish position since November 1st.
10 Year Treasury Note Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 242,840 contracts last week. This is a weekly decline of -20,826 contracts from the total net of 263,666 contracts reported the previous week.
IEF 7-10 Year Bond ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $105.80 which was a rise of $0.42 from the previous close of $105.38, according to ETF market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the previous 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