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UPDATE 1-Speculative U.S. 10-year T-note net shorts lowest since November -CFTC
March 31, 2017 / 8:19 PM / 8 months ago

UPDATE 1-Speculative U.S. 10-year T-note net shorts lowest since November -CFTC

    * Speculative Eurodollar net shorts hit another record high
    * Dealers, leveraged funds cut 10-year T-note net shorts
    * Speculative ultra bond net shorts highest since November

 (Add details on other T-note, rates futures)
    March 31 (Reuters) - Speculators' net bearish bets on U.S.
10-year Treasury note futures fell to their lowest since late
November on doubts about fiscal stimulus from Washington,
according to Commodity Futures Trading Commission data released
on Friday.
    Meanwhile, expectations the Federal Reserve will raise
interest rates further in the coming months led speculative net
shorts in Eurodollar futures to another record high at 3.06
million contracts.
    The amount of speculators' bearish, or short, positions in
10-year Treasury futures exceeded bullish, or long, positions by
69,419 contracts on March 28, according to the CFTC's latest
Commitments of Traders data.
    A week earlier, speculators held 100,354 net short positions
in 10-year T-note futures.
    By investor groups, bond dealers and leveraged funds reduced
their 10-year T-note net shorts to 42,800 and 185,056 on
Tuesday. Asset managers lowered their net longs to 286,295.
    Among other T-note maturities, speculators' net shorts in
two-year T-notes fell sharply to their lowest in five weeks,
while net shorts in five-year T-notes hit a seven-week trough.
    Speculative net shorts in T-bond futures fell to their
lowest since December, but speculate net shorts in ultra bonds
reached their highest level since November.
    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) 
        28 Mar 2017       Prior week
        week           
 Long         284,613        221,200
 Short        311,134        379,677
 Net          -26,521       -158,477
 
U.S. 5-year T-notes (Contracts of $100,000) 
        28 Mar 2017       Prior week
        week           
 Long         423,243        369,353
 Short        681,814        685,147
 Net         -258,571       -315,794
 
U.S. 10-year T-notes (Contracts of $100,000) 
        28 Mar 2017       Prior week
        week           
 Long         631,973        607,230
 Short        701,392        707,584
 Net          -69,419       -100,354
 
U.S. T-bonds (Contracts of $100,000) 
        28 Mar 2017       Prior week
        week           
 Long         104,901         88,662
 Short        125,306        142,674
 Net          -20,405        -54,012
 
U.S. Ultra T-bonds (Contracts of $100,000) 
        28 Mar 2017       Prior week
        week           
 Long          40,176         56,556
 Short        124,921        131,332
 Net          -84,745        -74,776
 Eurodollar (Contracts of $1,000,000) 
        28 Mar 2017       Prior week
        week           
 Long         417,957        396,578
 Short      3,473,838      3,405,660
 Net       -3,055,881     -3,009,082
 Fed funds 
        28 Mar 2017       Prior week
        week           
 Long         153,550        159,022
 Short        373,085        367,128
 Net         -219,535       -208,106
 
 (Reporting by Richard Leong; Editing by Richard Chang and James
Dalgleish)
  

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