August 31, 2018 / 8:21 PM / 3 months ago

UPDATE 1-Speculative U.S. 10-year T-note net shorts fall from record high -CFTC

    * Hedge funds pare 10-year T-note net shorts from record
high
    * Asset managers cut 10-year T-note net longs from all-time
peak
    * Bond dealers raise 10-year note shorts to highest since
2010

 (Adds background)
    Aug 31 (Reuters) - Speculators' net bearish bets on U.S.
10-year Treasury note futures fell earlier this week from their
record high on supply pressure and Mexico and the United States
reaching a deal on trade issues, according to Commodity Futures
Trading Commission data released on Friday.
    The benchmark 10-year yield reached a two-week
peak at 2.898 percent on Wednesday before retreating on worries
about Italy and Washington's contentious trade ties with China
and Canada. On Friday, the 10-year yield ended at 2.866 percent,
up 4 basis points on the week, Reuters data showed.
    The amount of speculators' bearish, or short, positions in
10-year Treasury futures exceeded bullish, or long, positions by
529,820 contracts on Aug. 28, according to the CFTC's latest
Commitments of Traders data.
    A week earlier, speculators held 700,514 net short positions
in 10-year T-note futures.
    Among investor categories, hedge funds scaled back their net
shorts in 10-year T-notes from an all-time high to 663,730
contracts, while asset managers reduced their 10-year T-note net
longs to 902,113 from a record 1.061 million.
    Bond dealers raised their net shorts to 268,966 contracts,
the highest level since Oct. 2010.
    Meanwhile, speculators dialed back their net shorts on ultra
bond futures, but raised their net shorts in two-year, five-year
and Eurodollar futures from a week earlier.
    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) 
        28 Aug 2018       Prior week
        week           
 Long         468,221        486,956
 Short        610,959        584,289
 Net         -142,738        -97,333
 
U.S. 5-year T-notes (Contracts of $100,000) 
        28 Aug 2018       Prior week
        week           
 Long         502,494        559,424
 Short      1,270,960      1,314,762
 Net         -768,466       -755,338
 
U.S. 10-year T-notes (Contracts of $100,000) 
        28 Aug 2018       Prior week
        week           
 Long         573,951        503,734
 Short      1,103,771      1,204,248
 Net         -529,820       -700,514
 
U.S. T-bonds (Contracts of $100,000) 
        28 Aug 2018       Prior week
        week           
 Long         131,459        149,385
 Short        137,145        157,886
 Net           -5,686         -8,501
 
U.S. Ultra T-bonds (Contracts of $100,000) 
        28 Aug 2018       Prior week
        week           
 Long         104,736        101,722
 Short        316,267        326,117
 Net         -211,531       -224,395
 Eurodollar (Contracts of $1,000,000) 
        28 Aug 2018       Prior week
        week           
 Long         944,676      1,009,552
 Short      3,905,220      3,890,336
 Net       -2,960,544     -2,880,784
 Fed funds (Contracts of $1,000,000) 
        28 Aug 2018       Prior week
        week           
 Long         202,735        234,735
 Short        193,008        213,449
 Net            9,727         21,286
 
 (Reporting by Richard Leong
Editing by Chizu Nomiyama and Dan Grebler)
  
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