CFTC_UST10Y_NONCOM_NET
10Y Treasury Note speculator positioning (CFTC COT)
Official name: 10-Year Treasury Note — Non-commercial Net (Long - Short)
Latest value
-833775.0000
as of 2026-04-07
All-time percentile
4th
1-year change
+3.8%
Time series
Showing 261 of 261 data points
About this series
Net long-minus-short positioning of non-commercial traders in 10-Year US Treasury Note futures. Weekly, 3-day lag.
Why it matters: Speculator positioning in Treasuries is usually the biggest extreme in all of futures markets — spec shorts in bonds have periodically reached record levels that were immediately followed by sharp rallies (notably 2018, 2023). It's one of the cleanest contrarian signals across asset classes.
How to read it: Watch for multi-year extremes. When spec net short crosses below -500k contracts, historically yields have been at or near peaks. Conversely deep net longs have sometimes marked yield bottoms.
Caveats: Same weekly cadence and 3-day lag. The 10Y contract is the most-used Treasury future but there are separate 2Y, 5Y, 30Y contracts — positioning across the curve tells a more complete story.