Net short bets against 30-year Treasury bond hit fresh high -CFTC

By Ira Iosebashvili

Oct 23 (Reuters) - Speculators’ net bearish bets on 30-year Treasury bond futures grew to a record high in the latest week, data from the Commodity Futures Trading Commission showed on Friday, potentially reflecting expectations of higher yields on longer-dated U.S. government bonds.

The amount of speculators’ bearish, or short, positions in 30-year Treasury futures exceeded bullish, or long, positions by 236,636 contracts on Oct. 20, a record, according to the CFTC’s latest Commitments of Traders data.

Net bearish bets stood at 221,140 in the previous week, the data showed.

Treasury yields, which move inversely to prices, have rallied since August, fueled by bets that the nascent U.S. economic recovery will continue with the help of an eventual fiscal stimulus deal and a possible breakthrough in the search for a vaccine against COVID-19.

(Reporting by Ira Iosebashvili Editing by Chris Reese)

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