*** Commodity Futures Trading...............>

US TSYS: *** Commodity Futures Trading Commission/Commitment of Traders data for

the period ending July 3 details: large speculative accounts sold across the

curve, paring longs (2s, Fed funds) while extending shorts everywhere else along

the curve, 10Y making new record shorts. In the short end, large specs pared net

longs in Fed funds by -87,193 to finish +133,370, and added to net shorts in

Eurodollars for the first time in weeks by a whopping -359,129 to -3,200,581. In

notes, the group reversed net longs in the 2-year note from +23,451 to -11,043

(-34,494 net), and added net shorts in the 5-year note by -1,893 to -548,119. In

the 10-year note, the group extended shorts by -144,752 to new record short of

-500,076. In the long end, the group added to net shorts in the 30-year Bond by

-5,799 to -15,776, and added net shorts in the Ultra-bond by -8,482 to finish

-194,199 (very close to record short of -194,423 from May 22 of this year).