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

US TSYS
US TSYS: *** Commodity Futures Trading Commission/Commitment of Traders data for
the period ending July 17 details: Except for scaling back Fed funds and
Eurodollar positions slightly, large speculative accounts primarily added to
existing positions over the last reporting period, making new record shorts in
5Y notes and Ultra-bonds. In the short end, large specs pared net longs in Fed
funds by -1,302 to finish +127,236, and pared net shorts in Eurodollars by
+3,702 to -3,287,665. In notes, the group added net shorts in the 2-year note by
-19,084 to finish -19,143, and added net shorts in the 5-year note by -97,764 to
new record short of -698,955 (blowing past prior record short of -630,199 set
back on 5/8/18). In the 10-year note, the group added to shorts by -29,990 to
finish -469,138. In the long end, the group added to net longs in the 30-year
Bond by +8,603 to +16,978, and added to net shorts in the Ultra-bond by -19,115
to new record short of -209,909.

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