Longs are unwinding across all U.S. Treasury futures tenors, with the most pronounced liquidations occurring in the 30-Year T-Bond and 10-Year T-Note, down -0.91% and -0.62%, respectively. Meanwhile, short positions have increased in the Ultra sectors, with gains of +0.34% in the Ultra T-Bond and +0.42% in the 10-Year Ultra.
Yesterday’s move accelerated Short Positioning Momentum, which has now reached significant levels in the 10-Year T-Note, Ultra T-Bond, and 10-Year Ultra. This shift suggests the potential for further position unwinds in the coming sessions as the market adjusts.
As highlighted in last week’s report, positioning reversed after reaching a Concentrated Long on June 30, when the Accumulation Score triggered a maximum 10/10 long overextension signal. Despite the recent unwind, the 10-Year T-Note still holds a slight long bias, with the bulk of long exposure concentrated at the 111-22 and 111-08 levels. Full breakdown by maturity below.
Positions Overview
Momentum Score (Signal: ±1 )
The Momentum Score measures the strength of positioning moves, with values above +2 or below -2 indicating significant positions shifts.
Accumulation Score (-10 to +10)
The Accumulation Score measures the concentration of positions on a scale from -10 to +10, indicating increased risk of position reversals
Positioning Analysis by Instrument
US 30Y T-Bond
Top Open Positions by Level
US 10Y T-Bond
Top Open Positions by Level
Ultra T-Bond
This is a preview of the US Treasury Futures - Weekly Positioning Update.