September 30, 2024 10:42 GMT
US TSY FUTURES: CFTC Shows Asset Managers Covering Longs, HFs Cut Shorts
US TSY FUTURES
The latest CFTC CoT showed asset managers trimming some of their net longs (TU, FV, US & WN), while they added to others (TY & UXY). They also cut net longs in SOFR futures.
- Meanwhile, hedge funds pared back net shorts in most contracts, only adding to net shorts in TU & UXY futures. They also added to net longs in SOFR futures.
- The CFTC survey cut off date was September 24, capturing the initial reaction to the Fed’s 50bp rate cut.
- Non-commercial positioning remained net short across all major Tsy futures.
- As ever, CFTC CoT positioning metrics will be skewed by basis trades.
Source: MNI - Market News/CFTC/Bloomberg
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