US TSY FUTURES: Positioning Across Funds & Asset Managers Swells In Latest CFTC

The latest CFTC CoT report showed broader net positioning in Tsy futures swelling across the major cohorts that we monitor:

• Asset managers added just under $35mln of fresh net long exposure across the curve, with the only exception to the wider theme coming via a modest reduction in net longs in TU futures. The cohort remains net long across the curve.
• Meanwhile, leveraged funds boosted their curve-wide net short exposure by ~$12mln DV01, as net short setting in TU, FV, UXY & WN comfortably outweighed short cover in TY & US futures. The cohort remains net short across the curve.
• Wider non-commercial positioning saw net shorts increased across all contracts outside of US futures, where the net short position was trimmed. The cohort’s curve-wide net short increased by ~$13.5mln in DV01 terms and they remain net short across the curve. See table below for me details on the positioning adjustments for this cohort.

Source: MNI - Market News/CFTC/Bloomberg Finace L.P.