With the Ten Year US Treasury note touching the lower end of the “Trump election” range at 2.31%, a Deutsche Bank report analyzing Commodity Futures Trading Commission’s Commitment of Traders (COT) report shows speculative interests positioned for a move in the opposite direction. While interest rates were important -- particularly given a weak US jobs report Friday -- these same “specs” decreased their short exposures in the euro currency - especially Eurodollar futures - ahead of interesting electoral developments in the region.
Eurodollar futures - Certain professional traders caught on the wrong side of a bad US jobs number
It has been three weeks running that professional commodity futures speculators have reduced...
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