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…
A Record net short in Eurodollar futures
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.