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UPDATE 1-Speculative U.S. 10-year T-notes net shorts hit record -CFTC
January 6, 2017 / 9:08 PM / a year ago

UPDATE 1-Speculative U.S. 10-year T-notes net shorts hit record -CFTC

(Adds details on data)
    Jan 6 (Reuters) - Speculators' net bearish bets on U.S.
10-year Treasury note futures rose to a record high in the
latest week on expectations of faster U.S. growth and inflation
in 2017, according to Commodity Futures Trading Commission data
released on Friday.
    The amount of speculators' bearish, or short, positions in
10-year Treasury futures exceeded bullish, or long, positions by
344,931 contracts on Jan. 3, according to the CFTC's latest
Commitments of Traders data. 
    A week earlier, speculators held 341,075 net short positions
in 10-year T-note futures. 
    T-note futures prices have recovered on bargain hunting and
portfolio rebalancing since mid-December following a market
selloff that knocked about $2 trillion in value from bond
markets around the world.
    Analysts forecast bond prices could rise further in the
coming weeks as investors await for details on the stimulus
programs pledged by the Trump administration and a
Republican-controlled Congress.
    A number of analysts forecast longer-dated bond yields to
resume their rise later this year with 10-year yields climbing
to 3 percent, about 60 basis points above Friday's closing
level..
    Among investor groups, bond dealers raised their net shorts
in 10-year T-notes to 153,111 contracts, the most since Nov. 22.
    Asset managers increased their 10-year T-note net longs for
a third week to 330,047 contracts, while leveraged funds reduced
their net shorts to 154,072.
    The following 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) 
        03 Jan 2017       Prior week
        week           
 Long         192,341        198,067
 Short        241,739        230,256
 Net          -49,398        -32,189
 
U.S. 5-year T-notes (Contracts of $100,000) 
        03 Jan 2017       Prior week
        week           
 Long         251,749        329,055
 Short        662,611        666,049
 Net         -410,862       -336,994
 
U.S. 10-year T-notes (Contracts of $100,000) 
        03 Jan 2017       Prior week
        week           
 Long         471,225        451,297
 Short        816,156        792,372
 Net         -344,931       -341,075
 
U.S. T-bonds (Contracts of $100,000) 
        03 Jan 2017       Prior week
        week           
 Long          81,565         85,549
 Short        113,724        107,059
 Net          -32,159        -21,510
 
U.S. Ultra T-bonds (Contracts of $100,000) 
        03 Jan 2017       Prior week
        week           
 Long          65,426         72,679
 Short        142,425        137,976
 Net          -76,999        -65,297
 Eurodollar (Contracts of $1,000,000) 
        03 Jan 2017       Prior week
        week           
 Long         582,991        579,240
 Short      2,699,095      2,485,417
 Net       -2,116,104     -1,906,177
 Fed funds 
        03 Jan 2017       Prior week
        week           
 Long          63,833         77,564
 Short        173,314        155,056
 Net         -109,481        -77,492
 
 (Reporting by Richard Leong; Editing by Lisa Shumaker and Grant
McCool)

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