Great, not a single person on these boards seems to want to be long ZN (see 10-yr notes today thread). I'm covering sunday nite :eek:
This week's commitment of traders report might be of interest to you... "The CFTC report suggests the hedge funds, or large spec traders tried to short the market in the wake of the payroll releaseâthey were obviously not that successful. From Tuesdayâs CFTC report through the end of the week, the market has pretty much traded in a straight line higher. Commercial traders added 28,112 to their net long position, ending the week with a net 290,276 long position. Large Spec tradersâhedge funds and fast money accountsâadded to their shorts as we said above. They ended the week short a net 127,192 contracts, with a total 26,100 new short positions. The non-reportable traders added a few more shorts as well, but they remain well long of their record net longs we saw in the first three months of the year. Non-reportable traders for the most part appear to have given up trying to press the market lower and are moving back towards their longer-term average, about 100k net shorts. In the week ahead the focus will be on the fund traders and the commercial traders. We generally expect to see markets shift into a net longer position in the near term as treasuries become attractive save haven opportunities."
if you think the ZN rise is tough look at the RECORD LOW yield run of the German 10yr Bund over the last few weeks...barely anything but small stop-out run downs in a chain of relentless rises... Q1