March 15, 2019 / 8:41 PM / a month ago

UPDATE 1-Speculative U.S. 10-year T-note net shorts hit one-month low - CFTC

    * Speculative 2-year T-note net shorts lowest since August
    * Speculators' net bearish Eurodollar bets hit 2-1/2-year
low 

 (Adds background, details on latest data)
    March 15 (Reuters) - Speculators' net bearish bets on U.S.
10-year Treasury note futures fell earlier this week to their
lowest level in a month, according to Commodity Futures Trading
Commission data released on Friday.
    Speculators rolled back their futures positioning that U.S.
bond yields and interest rates will rise on worries about
weakening global growth and signals from the Federal Reserve and
other major central banks that they will unlikely raise
borrowing costs in the foreseeable future.
    The amount of speculators' bearish, or short, positions in
10-year Treasury futures exceeded bullish, or long, positions by
176,434 contracts on March 12, according to the CFTC's latest
Commitments of Traders data.
    A week earlier, speculators held 233,376 net short positions
in 10-year T-note futures.
    In other parts of the Treasury complex, speculative net
shorts in two-year T-notes fell to 133,391 contracts, the lowest
level since Aug. 21.
    Speculators' net shorts in ultra bond futures fell to
281,523 contracts, the lowest since Jan. 8.
    Among interest rates futures, speculative net shorts in
Eurodollar declined to 493,337 contracts, the lowest since Aug.
7, 2016.
    Speculators trimmed their net shorts in federal funds
futures to 60,858 contracts, marking a six-week low.
    Below is a table of the speculative positions in Treasury
futures on the Chicago Board of Trade and in Eurodollar futures
on the Chicago Mercantile Exchange in the latest week:
    
 U.S. 2-year T-notes (Contracts of $200,000) 
        March 12,         Prior week
        2019 week      
 Long         738,377        708,166
 Short        871,768        888,228
 Net         -133,391       -180,062
 
U.S. 5-year T-notes (Contracts of $100,000) 
        March 12,         Prior week
        2019 week      
 Long         775,237        702,125
 Short        978,245        922,345
 Net         -203,008       -220,220
 
U.S. 10-year T-notes (Contracts of $100,000) 
        March 12,         Prior week
        2019 week      
 Long         636,459        554,481
 Short        812,893        787,857
 Net         -176,434       -233,376
 
U.S. T-bonds (Contracts of $100,000) 
        March 12,         Prior week
        2019 week      
 Long         148,431        128,531
 Short        171,031        158,768
 Net          -22,600        -30,237
 
U.S. Ultra T-bonds (Contracts of $100,000) 
        March 12,         Prior week
        2019 week      
 Long         121,258        111,747
 Short        402,781        414,580
 Net         -281,523       -302,833
 Eurodollar (Contracts of $1,000,000) 
        March 12,         Prior week
        2019 week      
 Long       1,215,243      1,054,703
 Short      1,708,580      1,806,554
 Net         -493,337       -751,851
 Fed funds (Contracts of $1,000,000) 
        March 12,         Prior week
        2019 week      
 Long         265,245        231,164
 Short        326,103        310,922
 Net          -60,858        -79,758
 
 (Reporting by Richard Leong; editing by Jonathan Oatis)
  
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