August 24, 2018 / 8:28 PM / in 3 months

UPDATE 1-Speculators raise U.S. 10-year T-note net shorts to record high -CFTC

 (Adds paragraph on ultra bonds)
    By Kate Duguid
    NEW YORK, Aug 24 (Reuters) - Speculators' net bearish bets
on U.S. 10-year Treasury note futures rose to an all-time high
in the latest week, according to Commodity Futures Trading
Commission data released on Friday.
    The amount of speculators' bearish, or short, positions in
10-year Treasury futures exceeded bullish, or long, positions by
700,514 contracts on 21 Aug 2018, a record high, according to
the CFTC's latest Commitments of Traders data.
    A week earlier, speculators held 698,194 net short positions
in 10-year T-note futures.
    Yields on 10-year Treasuries had fallen on
Monday to their lowest since July 6 as traders waited for the
Federal Reserve to release minutes from their last meeting on
Wednesday and Chair Jerome Powell's comments at Jackson Hole on
Friday. 
    Yields fell again after news late on Tuesday that two former
advisers to U.S. President Donald Trump were facing possible
prison sentences - and one of them had said Trump told him to
commit a crime - possibly hurting his Republican Party’s
November midterm election prospects and widening a criminal
investigation that has overshadowed his presidency.
    Speculative net bearish bets in U.S. ultra bonds decreased
in the latest week to 224,395 contracts, after hitting an
all-time high of 240,483 contracts the prior week. 
    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) 
        21 Aug 2018       Prior week
        week           
 Long         486,956        475,920
 Short        584,289        562,766
 Net          -97,333        -86,846
 
U.S. 5-year T-notes (Contracts of $100,000) 
        21 Aug 2018       Prior week
        week           
 Long         559,424        562,210
 Short      1,314,762      1,364,760
 Net         -755,338       -802,550
 
U.S. 10-year T-notes (Contracts of $100,000) 
        21 Aug 2018       Prior week
        week           
 Long         503,734        485,815
 Short      1,204,248      1,184,009
 Net         -700,514       -698,194
 
U.S. T-bonds (Contracts of $100,000) 
        21 Aug 2018       Prior week
        week           
 Long         149,385        142,422
 Short        157,886        168,917
 Net           -8,501        -26,495
 
U.S. Ultra T-bonds (Contracts of $100,000) 
        21 Aug 2018       Prior week
        week           
 Long         101,722         94,523
 Short        326,117        335,006
 Net         -224,395       -240,483
 Eurodollar (Contracts of $1,000,000) 
        21 Aug 2018       Prior week
        week           
 Long       1,009,552        950,596
 Short      3,890,336      3,857,378
 Net       -2,880,784     -2,906,782
 Fed funds (Contracts of $1,000,000) 
        21 Aug 2018       Prior week
        week           
 Long         234,735        239,323
 Short        213,449        180,404
 Net           21,286         58,919
 
 (Reporting by Kate Duguid
Editing by Susan Thomas and Alistair Bell)
  
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