April 27, 2018 / 7:57 PM / 24 days ago

UPDATE 1-Speculative U.S. 10-year T-note net shorts hit record high -CFTC

    * Speculators raise five-year T-note net shorts to record
high
    * Eurodollar speculative net shorts retreat from record peak
    * Speculative fed funds net longs highest since Sept 2008

 (Adds details on the latest data, table)
    April 27 (Reuters) - Speculators' net bearish bets on U.S.
10-year Treasury note futures climbed to a record high earlier
this week when the 10-year yield rose to 3 percent for the first
time in over four years, according to U.S. Commodity Futures
Trading Commission data released on Friday.
    Concerns about rising inflation and government debt had
pushed the 10-year yield to 3.035 percent on Wednesday, which
was last seen in January 2014 before retreating to 2.961 percent
late on Friday.
    The amount of speculators' bearish, or short, positions in
10-year Treasury futures exceeded bullish, or long, positions by
462,133 contracts on April 24, according to the CFTC's latest
Commitments of Traders data.
    A week earlier, speculators held 371,489 net short positions
in 10-year T-note futures.
    Moreover, speculative net short positions in five-year
Treasury futures increased by 18,350 contracts to 591,849 on
Tuesday.
    On Wednesday, five-year Treasury yield reached
2.854 percent, the highest since August 2009, Reuters data
showed.
    Meanwhile, speculators dialed back their net shorts in
Eurodollar futures to 3.88 million contracts from a record high
amount of 4.05 million the prior week.
    On the other hand, they increased their net longs in federal
funds futures to 216,156 contracts on Tuesday, which was the
highest level since August 2008, the latest Commitment of
Traders data showed.
    The Federal Reserve will hold a policy meeting next week,
where policy-makers are expected to leave the federal funds rate
unchanged.
    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 Apr 2018       Prior week
        week           
 Long         392,342        417,217
 Short        461,606        503,965
 Net          -69,264        -86,748
 
U.S. 5-year T-notes (Contracts of $100,000) 
        24 Apr 2018       Prior week
        week           
 Long         573,116        569,784
 Short      1,164,965      1,143,283
 Net         -591,849       -573,499
 
U.S. 10-year T-notes (Contracts of $100,000) 
        24 Apr 2018       Prior week
        week           
 Long         606,022        647,754
 Short      1,068,155      1,019,443
 Net         -462,133       -371,689
 
U.S. T-bonds (Contracts of $100,000) 
        24 Apr 2018       Prior week
        week           
 Long         143,243        160,146
 Short        124,922        114,849
 Net           18,321         45,297
 
U.S. Ultra T-bonds (Contracts of $100,000) 
        24 Apr 2018       Prior week
        week           
 Long          56,844         57,025
 Short        216,819        213,706
 Net         -159,975       -156,681
 Eurodollar (Contracts of $1,000,000) 
        24 Apr 2018       Prior week
        week           
 Long       1,040,724      1,024,808
 Short      4,921,920      5,076,335
 Net       -3,881,196     -4,051,527
 Fed funds (Contracts of $1,000,000) 
        24 Apr 2018       Prior week
        week           
 Long         421,552        380,019
 Short        205,396        187,531
 Net          216,156        192,488
 
    
    

 (Reporting by Richard Leong)
  
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