UST 10Y NOTE COT report
UST 10Y NOTE - CHICAGO BOARD OF TRADE positioning from the CFTC Legacy report. Net positions equal long contracts minus short contracts. Commercial, non-commercial and non-reportable classifications describe participants; they are not buy or sell signals.
Positions as of 2026-10-27. Open interest: 5881588 contracts. This is the latest stored observation, not live trading data.
How are traders positioned?
| Category | Long | Short | Net contracts |
|---|---|---|---|
| Non-commercial | 668230 | 1649768 | -981538 |
| Commercial | 4648447 | 3690486 | 957961 |
| Non-reportable | 420469 | 396892 | 23577 |
Non-commercial percentile: 3 across 103 stored observations. This is the share of sampled net positions at or below the latest value, not a price forecast.
Position history in contracts
| Observation date | Non-commercial net |
|---|---|
| 2026-10-27 | -981538 |
| 2026-10-20 | -964293 |
| 2026-10-13 | -988102 |
| 2026-10-06 | -896481 |
| 2026-09-29 | -900615 |
| 2026-09-22 | -811752 |
| 2026-09-15 | -821236 |
| 2026-09-08 | -834783 |
| 2026-09-01 | -909275 |
| 2026-08-25 | -838975 |
| 2026-08-18 | -946961 |
| 2026-08-11 | -915053 |
| 2026-08-04 | -979243 |
| 2026-07-28 | -876119 |
| 2026-07-21 | -879706 |
| 2026-07-14 | -831675 |
| 2026-07-07 | -814262 |
| 2026-06-30 | -808891 |
| 2026-06-23 | -835266 |
| 2026-06-16 | -911082 |
| 2026-06-09 | -863807 |
| 2026-06-02 | -829575 |
| 2026-05-26 | -787954 |
| 2026-05-19 | -848052 |
| 2026-05-12 | -781167 |
| 2026-05-05 | -815269 |
| 2026-04-28 | -839137 |
| 2026-04-21 | -790971 |
| 2026-04-14 | -800365 |
| 2026-04-07 | -823624 |
| 2026-03-31 | -784063 |
| 2026-03-24 | -641887 |
| 2026-03-17 | -597878 |
| 2026-03-10 | -534883 |
| 2026-03-03 | -654507 |
| 2026-02-24 | -774020 |
| 2026-02-17 | -877853 |
| 2026-02-10 | -813027 |
| 2026-02-03 | -729414 |
| 2026-01-27 | -726151 |
| 2026-01-20 | -655640 |
| 2026-01-13 | -870505 |
| 2026-01-06 | -915552 |
| 2025-12-30 | -939658 |
| 2025-12-23 | -742370 |
| 2025-12-16 | -670108 |
| 2025-12-09 | -686764 |
| 2025-12-02 | -736955 |
| 2025-11-25 | -781383 |
| 2025-11-18 | -753697 |
| 2025-11-10 | -820807 |
| 2025-11-04 | -859245 |
| 2025-10-28 | -910930 |
| 2025-10-21 | -846523 |
| 2025-10-14 | -830797 |
| 2025-10-07 | -787958 |
| 2025-09-30 | -739908 |
| 2025-09-23 | -844116 |
| 2025-09-16 | -819299 |
| 2025-09-09 | -857972 |
| 2025-09-02 | -868358 |
| 2025-08-26 | -883829 |
| 2025-08-19 | -945516 |
| 2025-08-12 | -942223 |
| 2025-08-05 | -959834 |
| 2025-07-29 | -896630 |
| 2025-07-22 | -749534 |
| 2025-07-15 | -772377 |
| 2025-07-08 | -840579 |
| 2025-07-01 | -783662 |
| 2025-06-24 | -680131 |
| 2025-06-17 | -752899 |
| 2025-06-10 | -724101 |
| 2025-06-03 | -705256 |
| 2025-05-27 | -769604 |
| 2025-05-20 | -851431 |
| 2025-05-13 | -890351 |
| 2025-05-06 | -953168 |
| 2025-04-29 | -871537 |
| 2025-04-22 | -906106 |
| 2025-04-15 | -937755 |
| 2025-04-08 | -1078470 |
| 2025-04-01 | -863263 |
| 2025-03-25 | -810090 |
| 2025-03-18 | -881374 |
| 2025-03-11 | -737075 |
| 2025-03-04 | -712040 |
| 2025-02-25 | -699855 |
| 2025-02-18 | -709527 |
| 2025-02-11 | -751034 |
| 2025-02-04 | -707703 |
| 2025-01-28 | -700642 |
| 2025-01-21 | -580245 |
| 2025-01-14 | -567935 |
| 2025-01-07 | -672446 |
| 2024-12-31 | -653763 |
| 2024-12-24 | -591374 |
| 2024-12-17 | -732917 |
| 2024-12-10 | -875716 |
| 2024-12-03 | -891901 |
| 2024-11-26 | -926603 |
| 2024-11-19 | -907502 |
| 2024-11-12 | -815801 |
Historical AI commentary — 2026-07-07
This commentary is dated separately from the positioning table. It may describe an earlier market environment.
SUMMARY: The 10y Treasury market is at a historic positioning extreme. Dealers are at their most net short on record (0.0th percentile), while Asset Managers are at their most net long (100.0th percentile). This extreme dealer short position, combined with a declining speculative long trend, suggests the market is pricing in a specific yield trajectory, but the velocity of the unwind makes the ...
How should this COT report be used?
Use positioning to understand exposure and crowded trades alongside price, liquidity and risk controls. Weekly reports generally describe Tuesday positions released on Friday, subject to the CFTC schedule. Classifications differ in TFF and Disaggregated reports. Compare like-for-like formats and dates.
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