February 26, 2019 / 8:53 PM / a month ago

UPDATE 1-Speculative U.S. 10-year T-note net shorts grow Feb 12 -CFTC

    * Speculators cut Eurodollar net shorts to lowest since Oct.
2016
    * Speculative fed funds net shorts hit highest since Sept.
2017

 (Adds background, details on latest data)
    Feb 26 (Reuters) - Speculators' net bearish bets on U.S.
10-year Treasury note futures rose two weeks ago amid optimism
about a trade deal between China and the United States,
according to Commodity Futures Trading Commission data released
on Tuesday.
    The amount of speculators' bearish, or short, positions in
10-year Treasury futures exceeded bullish, or long, positions by
165,489 contracts on Feb. 12, according to the CFTC's latest
Commitments of Traders data.
    A week earlier, speculators held 162,950 net short positions
in 10-year T-note futures.
    Among other T-notes, speculative net shorts in ultra bond
futures reached a record high amount of 315,331 contracts,
compared with 291,770 the week before.
    As for interest rates futures, speculators pared their net
bearish positions in Eurodollar contracts to 1.365 million
contracts, the lowest level since Oct. 9, 2016.
    Speculative net shorts in federal funds futures rose to
196,322 contracts on Feb. 12, marking their highest since Sept.
17, 2017.
    On Tuesday, Federal Reserve Chairman Jerome Powell told the
Senate Banking Committee the U.S. central bank will stay
"patient" in deciding on further interest rate increases on
signs of overseas risks and recent softening in housing and
business activities.
    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) 
        12 Feb 2019       Prior week
        week           
 Long         590,956        506,988
 Short        942,920        890,593
 Net         -351,964       -383,605
 
U.S. 5-year T-notes (Contracts of $100,000) 
        12 Feb 2019       Prior week
        week           
 Long         779,560        768,329
 Short      1,010,454        972,889
 Net         -230,894       -204,560
 
U.S. 10-year T-notes (Contracts of $100,000) 
        12 Feb 2019       Prior week
        week           
 Long         694,179        636,682
 Short        859,668        799,632
 Net         -165,489       -162,950
 
U.S. T-bonds (Contracts of $100,000) 
        12 Feb 2019       Prior week
        week           
 Long         123,028        119,149
 Short        149,706        152,928
 Net          -26,678        -33,779
 
U.S. Ultra T-bonds (Contracts of $100,000) 
        12 Feb 2019       Prior week
        week           
 Long         110,210        111,578
 Short        425,541        403,348
 Net         -315,331       -291,770
 Eurodollar (Contracts of $1,000,000) 
        12 Feb 2019       Prior week
        week           
 Long         894,902        863,384
 Short      2,260,296      2,315,026
 Net       -1,365,394     -1,451,642
 Fed funds (Contracts of $1,000,000) 
        12 Feb 2019       Prior week
        week           
 Long         222,557        192,175
 Short        418,879        335,885
 Net         -196,322       -143,710
 
 (Reporting by Richard Leong; editing by Diane Craft and
Jonathan Oatis)
  
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