NEW YORK May 17 Speculators turned bearish on
U.S. 10-year Treasury note futures in the latest week after an
unexpected rise in April retail sales suggested underlying
strength in the U.S. economy, 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 bullish or long
positions by 11,153 contracts on May 14, according to the CFTC's
latest Commitments of Traders data.
There were 37,956 more longs in 10-year note futures than
shorts a week earlier.
It was the first time in two months that speculators held a
net bearish position in 10-year T-note futures.
Over a week after an upbeat April payrolls report, the
government said on Monday retail sales edged up 0.1 percent
after a 0.5 percent drop in March. Economists had expected a 0.3
June 10-year Treasury futures fell 18/32 to 131-28/32
on Friday, while the yield on cash 10-year Treasury notes
rose 7 basis points to 1.949 percent, according to
Speculators pared bets across most Treasury maturities in
the latest week, according to the latest weekly CFTC Commitments
of Traders figures.
Speculative long positions in two-year T-note futures
fell by 8,242 contracts to 35,184 on Tuesday.
Speculative long trades in five-year Treasury note futures
exceeded short positions by 118,458 contracts, down
36,723 from the prior week.
The net shorts in "ultra" long T-bond futures grew to 23,583
in the latest week, 6,548 more contracts than the previous week.
The sole exception in speculative positioning in the latest
week was in 30-year bond futures. Speculators raised their net
long positions in 30-year bond futures to 14,638
contracts on Tuesday, up 7,149 contracts from a week ago.