July 8 (Reuters) - Speculators pared U.S. 10-year Treasury note futures holdings last week prior to the release of the government’s release of its June payrolls report, according to Commodity Futures Trading Commission data released on Monday.
The latest monthly jobs reading, which the Labor Department reported on Friday, came in stronger-than-expected and caused a bond market selloff that lifted the yield on the benchmark U.S. 10-year Treasury note to its highest level in nearly two years.
The amount of bearish, or short, positions in 10-year Treasury futures from speculators exceeded bullish, or long, positions by 22,917 contracts on July 2, according to the CFTC’s latest Commitments of Traders data.
There were 33,011 more speculative long positions than speculative shorts in 10-year note futures the prior week. .