Speculators' net bearish bets on US 10-year Treasury note futures fell by the biggest amount in 1-1/2 years in the latest week, spurred by safe-haven demand for US government debt due to a sharp selloff in global equity prices, 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 333,195 contracts on Nov. 13, according to the CFTC's latest Commitments of Traders data.
This was the biggest weekly drop in net shorts in 10-year T-notes since a drop of 255,042 contracts on April 25, 2017.
A week earlier, speculators held 539,186 net short positions in 10-year T-note futures.
The benchmark 10-year Treasury yield fell to an over two-week low on Friday, at 3.066 percent, on safe-haven demand for bonds stemming from losses on Wall Street and a decline in oil prices. The Treasury yield decline followed dovish comments from a number of Federal Reserve officials.
By investor groups, asset managers pared their net longs in 10-year T-notes for a second week to 1.098 million contracts, while dealers' net positions reached a record peak at 327,355 contracts.
Hedge funds reduced their net shorts in 10-year T-notes from a six-week peak to 815,407 contracts.
Among other T-note futures, speculative net shorts in two-year T-note futures increased to an all-time high at 362,374 contracts on Tuesday.
Speculative net shorts in ultra bond futures reached a record high at 280,858 contracts on Tuesday.
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