Fast-Money Cut Treasury Shorts by Most Since June 2016: Chart

(Bloomberg) -- Speculators including hedge funds reduced bets on a decline in Treasuries at the most rapid rate since June 2016, according to the latest Commodity Futures Trading Commission data. A total of $20 million of short positions were cut in a dollar-value per basis point move, driven mostly by short covering in 5-year and eurodollar futures. The data as of April 18 confirms that a large amount of short covering from fast-money accounts was behind the surge in Treasuries over the past week which saw yields pushed to year-to-date lows that day.

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