October 27, 2017 / 8:11 PM / a year ago

UPDATE 1-Speculative U.S. 10-year T-note net longs rise -CFTC

    * Spec net shorts in 2- , 5-year T-notes fall from record
    * Five-, 10-year Treasury yields hit seven-month peaks

 (Adds background, details on latest data)
    Oct 27 (Reuters) - Speculators' net bullish bets on U.S.
10-year Treasury note futures rose from six-month lows earlier
this week even as yields were rising with stronger stock prices,
according to Commodity Futures Trading Commission data released
on Friday.
    U.S. benchmark 10-year Treasury yields hit a
seven-month high on Wednesday on stronger-than-forecast durable
goods and new home sales data and speculation U.S. President
Donald Trump may pick a Federal Reserve head who favors a faster
pace of interest rate increases than current Chair Janet Yellen.

    The amount of speculators' bullish, or long, positions in
10-year Treasury futures exceeded bearish, or short, positions
by 153,597 contracts on Oct. 24, according to the CFTC's latest
Commitments of Traders data.
    A week earlier, speculators held 106,291 net long positions
in 10-year T-note futures.
    Meanwhile, speculative net shorts in two-year and five-year
Treasury futures retreated from record highs earlier this week.
    Two-year Treasury yields hit a near nine-year
peak at 1.639 percent on Friday on surprisingly strong data on
U.S. third-quarter economic growth. They ended the day lower on
safe-haven buying tied to worries about Catalonia's persistence
to split from Spain and reports that Trump leans to nominate Fed
Governor Jerome Powell for the central bank's top post.

    Five-year yields reached a seven-month high of
2.093 percent on Friday before reversing to 2.035 percent, down
more than 3 basis points on the day.
    Ten-year yields finished at 2.419 percent, down
3.5 basis points from late on Thursday.
    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) 
        24 Oct 2017       Prior week
 Long         249,530        276,978
 Short        545,278        589,431
 Net         -295,748       -312,453
U.S. 5-year T-notes (Contracts of $100,000) 
        24 Oct 2017       Prior week
 Long         420,919        355,004
 Short        806,878        800,583
 Net         -385,959       -445,579
U.S. 10-year T-notes (Contracts of $100,000) 
        24 Oct 2017       Prior week
 Long         870,062        774,341
 Short        716,465        668,050
 Net          153,597        106,291
U.S. T-bonds (Contracts of $100,000) 
        24 Oct 2017       Prior week
 Long         178,761        184,195
 Short        140,063        133,220
 Net           38,698         50,975
U.S. Ultra T-bonds (Contracts of $100,000) 
        24 Oct 2017       Prior week
 Long          48,118         61,277
 Short        148,729        153,454
 Net         -100,611        -92,177
 Eurodollar (Contracts of $1,000,000) 
        24 Oct 2017       Prior week
 Long         964,362        948,024
 Short      3,133,570      3,170,922
 Net       -2,169,208     -2,222,898
 Fed funds (Contracts of $1,000,000) 
        24 Oct 2017       Prior week
 Long         125,979        105,199
 Short        160,125        166,795
 Net          -34,146        -61,596
 (Reporting by Richard Leong; Editing by Nick Zieminski and
Meredith Mazzilli)
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