Speculators raise bearish U.S. 10-year T-note futures bets after Sept jobs data-CFTC

November 1, 2013


Nov 1 (Reuters) - Speculators raised net bearish bets on U.S. 10-year Treasury note futures last week despite a mildly disappointing jobs report in September, according to Commodity Futures Trading Commission data released on Friday.

The amount of speculators' bearish, or short, positions in 10-year Treasury futures exceeded bullish, or long, positions by 142,550 contracts on Oct. 22, according to the CFTC's latest Commitments of Traders data.

A week earlier, speculators held 99,788 net short positions in 10-year T-note futures.

The CFTC Commitments of Traders data have been delayed due to the 16-day government shutdown in the first half of October.

U.S. 10-year Treasury note futures on the Chicago Board of Trade for December delivery fell 20/32 in price on the day at 126-23/32, the lowest in about two weeks.

In the cash market, the yield on 10-year Treasury notes rose 8 basis points to 2.625 percent, near a two-week high due to stronger-than-expected report on U.S. manufacturing.

On Oct. 22, the government said U.S. companies added 48,000 workers in September. While the job count for August was revised higher, employment gains in July were revised lower and were the weakest since June 2012.

Speculative net shorts in five-year Treasury note futures fell to 112,814 on Oct. 22, down 15,114 from the prior week..

Speculators' short positions in two-year T-note futures exceeded longs by 13,066 contracts on Oct. 22, which was 19,209 fewer than the previous week..

Speculators turned net short in 30-year bond futures by 10,727 contracts on Oct. 22, compared with a net long of 11,429 a week earlier, according to the latest CFTC Commitments of Traders figures.

Speculative longs in ultra-long T-bond futures exceeded shorts by 8,279 contracts on Oct. 22, up 3,180 from the previous week..