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UPDATE 1-Speculators net longs in U.S. 10-year T-notes highest since 2012 -CFTC
July 29, 2016 / 8:16 PM / a year ago

UPDATE 1-Speculators net longs in U.S. 10-year T-notes highest since 2012 -CFTC

(Adds details on latest data)
    July 29 (Reuters) - Speculators' net bullish bets on U.S.
10-year Treasury note futures rose this week, ahead of the
Federal Reserve's latest policy statement, to the highest since
late 2012, according to Commodity Futures Trading Commission
data released on Friday.
    The amount of speculators' bullish, or long, positions in
10-year Treasury futures exceeded bearish, or short, positions
by 185,521 contracts on July 26, according to the CFTC's latest
Commitments of Traders data.
    This was the most speculative net longs in 10-year T-note
futures since 202,691 on Dec. 4, 2012.
    A week earlier, speculators held 109,371 net long positions
in 10-year T-note futures.
    On Wednesday, the U.S. central bank acknowledged near-term
risks to the U.S. economy have abated, in a statement following
a two-day meeting where they left short-term interest rates
unchanged. Traders who had thought the Fed was open to raise
rates later this year piled into longer-dated Treasuries over
shorter-dated issues in "curve-flattening" trades. 
    Among other T-note futures, speculators were net short in
two-year T-note futures for the first time in six weeks, while
speculative net shorts in seven-year notes reached their highest
in seven weeks.
    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) 
        26 Jul 2016       Prior week
        week           
 Long         257,223        246,578
 Short        264,130        236,070
 Net           -6,907         10,508
 
U.S. 5-year T-notes (Contracts of $100,000) 
        26 Jul 2016       Prior week
        week           
 Long         367,725        409,779
 Short        569,043        558,792
 Net         -201,318       -149,013
 
U.S. 10-year T-notes (Contracts of $100,000) 
        26 Jul 2016       Prior week
        week           
 Long         606,471        592,566
 Short        420,950        483,195
 Net          185,521        109,371
 
U.S. T-bonds (Contracts of $100,000) 
        26 Jul 2016       Prior week
        week           
 Long         171,816        174,488
 Short         74,377         82,691
 Net           97,439         91,797
 
U.S. Ultra T-bonds (Contracts of $100,000) 
        26 Jul 2016       Prior week
        week           
 Long          66,455         69,020
 Short        144,646        139,056
 Net          -78,191        -70,036
 Eurodollar (Contracts of $1,000,000) 
        26 Jul 2016       Prior week
        week           
 Long       1,050,631      1,313,341
 Short      1,541,557      1,827,568
 Net         -490,926       -514,227
 Fed funds 
        26 Jul 2016       Prior week
        week           
 Long          52,511         44,473
 Short         94,293         97,561
 Net          -41,782        -53,088
 
 (Reporting by Richard Leong; Editing by David Gregorio and
James Dalgleish)

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