Speculators less bearish on U.S. 10-year bond futures
March 22 (Reuters) - Speculators trimmed their net bearish bets on U.S. 10-year Treasury futures in the latest week, as worries over whether Cyprus will obtain a bailout spurred safe haven bids for U.S. government debt, according to Commodity Futures Trading Commission data released on Friday. The amount of bearish or short positions in 10-year Treasury futures from speculators exceeded long or bullish positions by 3,295 contracts on Tuesday, according to the CFTC's latest Commitments of Traders data. A week ago, there were 57,346 more shorts in 10-year T-note futures than longs. Last week was the first time since early August that there were more speculative short positions in the 10-year T-notes than long ones. On Friday, June 10-year Treasury futures closed 3/32 higher at 131-16/32, while the yield on cash 10-year Treasury notes was little changed on the day at 1.915 percent. Speculative long trades in five-year Treasury note futures exceeded short positions by 78,696 contracts, more than prior week's 73,214. On the other hand, speculators remained concerned about higher interest rates in the wake of recent data suggesting the U.S. economy gaining traction, despite another flare-up with the European debt crisis. They raised their net short positions in 30-year bond futures to 20,622 contracts on Tuesday from 9,402 a week ago, the latest Commitment of Traders data showed. The net shorts in "ultra" long T-bond futures grew to 28,068 in the latest week from previous week's 25,807. Speculative long positions in two-year T-note futures fell modestly by 8,622 to 136,908 on Tuesday.
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