10-Year Treasury Shorts Press Bets to Near-Record Levels

COT Futures reports for Tuesday came out today. Treasury bears are pressing short positions.

I see reports of new record shorts but I think we slightly missed the mark.

Big Specs

  • In the past month, the number of long contracts fell from 535,849 to 526,182
  • In the past month, the number of short contracts rose from 891,173 to 1,035,680. That's a new record.
  • Current Net Short: 509,498. That's a new record.
  • Net Short Increase Since June 26: 154,174

Small Specs

  • In the past month, the number of long contracts fell from 340,606 to 332,585
  • In the past month, the number of short contracts rose from 508,636 to 521,591
  • Current Net Short: 189,006.
  • Net Short Increase Since June 26: 20,976

Big Specs + Small Specs are net short a combined 698,504. That is slightly under the May 29 Net Short Total of 699,183. (Scroll down to find 10-year-Treasuries).

When this economy turns, the recent treasury bears will get blown out of the water.

Mike "Mish" Shedlock

Comments (4)
No. 1-3
Bam_Man
Bam_Man

Absolutely agree with Mish’s last sentence. In the meantime, I collect coupon interest. Not so bad.

AWC
AWC

So, we have the 10 year at 2.96 and a 5 year Goldman Marcus CD at 3.00 ?

Humm?

LawrenceBird
LawrenceBird

@Mish Is the old style report still the right way to look at financial futures? Looking at the 'new' report I would have to wonder how much of the shorts of the leveraged funds are hedging other debt (ie, high yield) or a function of short gamma