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Weekly COT Report: Market Positioning Hints at Lower Yields
Traders trimmed USD long exposure by -0.4 billion, according to calculations by IMM. • Traders are estimated to be net-long the US dollar by 19.3 billion • Large speculators increased net-short exposure to JPY and CHF futures for a 4th and 3rd week, respectively. • Traders were their most bullish on NZD futures since March. • Net-short exposure to US 10-year Treasury note fell to its most bearish level since March 2020. chart With traders positioned at their most bearish level since the pandemic was taking hold on global markets (March 2020), the initial assumption would be for higher yields as they move ... (full story)