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US TSY FUTURES: CFTC CoT Reveals Record Net Short In TY Futures

US TSY FUTURES
USGlobalBulletMarketsFixed Income BulletsRegionNorth America

The latest CFTC CoT report revealed the largest ever net short non-commercial TY position.

  • By investor sub-group, asset managers extended net longs in most contracts, while hedge funds added to net shorts across much of the curve.
  • A reminder that this CFTC CoT report covered the CPI data, pre-blackout Fedspeak and the ‘unofficial’ guidance towards the 50bp cut from both the WSJ & FT.
  • The actual delivery of the 50bp Fed rate cut came the day after the reporting cut off period.
  • CFTC CoT positioning metrics will be skewed by the presence of basis trades.

Source: MNI - Market News/CFTC/Bloomberg

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The latest CFTC CoT report revealed the largest ever net short non-commercial TY position.

  • By investor sub-group, asset managers extended net longs in most contracts, while hedge funds added to net shorts across much of the curve.
  • A reminder that this CFTC CoT report covered the CPI data, pre-blackout Fedspeak and the ‘unofficial’ guidance towards the 50bp cut from both the WSJ & FT.
  • The actual delivery of the 50bp Fed rate cut came the day after the reporting cut off period.
  • CFTC CoT positioning metrics will be skewed by the presence of basis trades.

Source: MNI - Market News/CFTC/Bloomberg