US Tsy Futures: CFTC/COT, Large Specs Scale Back Flatteners

CHICAGO (MNI) - Commodity Futures Trading Commission/Commitment of Traders data

for the period ending June 19 details.

With the exception of paring shorts in the Ultra-bond, large speculative

accounts appear to have scaled back crowded flattener positions, adding

long/paring shorts in the front end, while adding shorts/paring longs in

10s-30s. 

In the short end, large specs nearly doubled net longs in Fed funds by +108,722

to finish +212,612, and continued to pare net shorts in Eurodollars by a

whopping +436,855 to -2,891,371. 

In notes, the group reversed prior net short in the 2-year note of -17,571 to

+4,404 (+21,975 net), and pared net shorts in the 5-year note by 28,075 to

-514,106. In the 10-year note, the group added to shorts in the 10Y note by

-23,469 to -359,463. 

In the long end, the group reversed prior net long in the 30-year Bond of +4,187

to -8,735 (-12,922), and pared net shorts in the Ultra-bond by +3,350 to finish

-189,281.

                      Jun 19     Jun 12      Rec Long          Rec Short

Fut Only 2Y Notes      4,404    -17,571   234,808 7/31/12   -329,066 1/30/18

Combined 2Y Notes     14,369     -5,512   235,621 5/03/11   -310,549 10/17/17

Fut Only 5Y Notes   -514,106   -542,181   402,448 5/06/08   -656,908 5/08/18

Combined 5Y Notes   -503,959   -527,024   387,383 5/06/08   -630,199 5/08/18

Fut Only 10Y Note   -359,463   -335,994   608,492 8/14/07   -471,067 5/29/18

Combined 10Y Note   -219,868   -213,673   668,018 8/7/07    -429,387 4/24/18

Fut Only 30Y Bond     -8,735      4,187   106,002           -178,500

Combined 30Y Bond    -13,073      3,023   122,839 12/19/17  -172,009

Fut Only Ultra Bd   -189,281   -192,631    28,763 6/05/12   -194,423 5/22/18

Combined Ultra Bd   -189,149   -192,526    28,763 6/05/12   -194,949 5/22/18

Fut Only 3m Euro$ -2,891,371 -3,328,226 1,822,601 3/4/08  -4,051,527 4/17/18

Combined 3m Euro$ -2,449,246 -2,522,595 1,501,690 4/20/10 -3,110,209 5/08/18

Fut Only 30d Fed Fd  212,612    103,890   332,320 6/24/08   -286,041 8/8/17

Combined 30d Fed Fd  211,904    102,976   333,657 6/24/08   -286,025 8/8/17

*Denotes new record

--MNI Chicago Bureau; tel: +1 312-431-0089; email: bill.sokolis@marketnews.com

[TOPICS: MTABLE]