RPT-Speculators raise bets on US 10-year note futures-CFTC
NEW YORK, Nov 2 (Reuters) - Bond speculators doubled their bullish bets on U.S. 10-year Treasury note futures early this week on worries about severe storm damage and ahead of Friday's payroll data, according to Commodity Futures Trading Commission data released on Friday. Speculators' net long positions in 10-year Treasury futures more than doubled to 169,456 contracts on Oct. 30 from 79,296 contracts last week, according to the CFTC's latest Commitments of Traders data. The latest positions might be skewed by abbreviated trading activities earlier this week due to Sandy, a devastating storm that hammered the U.S. Northeast that killed at least 102 people. The U.S. bond market closed early on Monday and stayed shut on Tuesday. Economists had expected modest job growth in October due to signs of a slowdown in the global economy, which has been exacerbated by the fiscal troubles in Europe. But the U.S. Labor Department reported on Friday that employers added 171,000 jobs last month, more than the 125,000 predicted by economists. On Friday, 10-year Treasury futures ended nearly unchanged on the day at 132-26/32, while the yield on cash 10-year Treasury notes finished steady at 1.72 percent. In the meantime, speculators pared their short bets against two- and 30-year Treasury futures. There were 15,320 more speculative short positions in 30-year Treasury bond futures compared with long positions on Tuesday. A week earlier, there were 23,835 more speculative shorts in T-bond futures than longs. Net speculative short bets on two-year T-notes fell to 3,245 contracts from 5,546 last week. As for other Treasury futures, net speculative long bets on five-year T-note futures fell to 56,142 contracts from 83,226 the prior week, the data showed. Speculative bets on the Chicago Board of Trade's "ultra" bond contracts changed in the latest week. There were 8,061 more speculative short positions than longs on Tuesday. A week earlier, there were 6,456 more speculative long contracts than shorts, the data showed.
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