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CoT Positioning Report
- Commercials: The adjustments remain largely contained to the movements in the intermediates.
- Non-commercials (specs): Looks like a large 5s7s curve steepener took place via FVs and TYs.
US IR Futures – COT Positioning Metrics
US IR Futures – COT Positioning Charts
TFF Positioning Report
- Dealers: Little adjustments across the futures stack as most activity was between outright investors.
- Asset Managers: A major flip in TY, going from net short to net long, but Ultra-10s remain max short.
- Leverage Funds: Looks like LFs were the other direct side of the AM TY trade as they reduced longs.
- Other Reportables: They too also remain near record net short in Ultra-10s as z-scores are about 3.
US IR Futures – TFF Positioning Metrics
US IR Futures – TFF Positioning Charts
Data as of 3/30/2021