{"as_of":"2026-11-03","release_date":"2026-11-06","next_release":{"release_date":"2026-11-16","as_of":"2026-11-10","time_et":"3:30 PM ET","tentative":false},"generated_at":"2026-11-12T13:26:41.463Z","data_updated_at":"2026-11-06T20:35:42.720Z","stale":false,"notice":null,"fetch_error":null,"validation":{"ok":true,"checks":"rows: dates, open interest > 0, 0 <= longs/shorts <= OI, no duplicates or future dates; output: net = long - short, percentile recomputed independently, n_weeks = history length, |% of OI| <= 100","errors":[]},"source":{"name":"CFTC Commitments of Traders","url":"https://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htm","datasets":{"tff_futures_only":"https://publicreporting.cftc.gov/resource/gpe5-46if","disaggregated_futures_only":"https://publicreporting.cftc.gov/resource/72hh-3qpy"},"license":"Public domain (CFTC Web Policy). Credit: Source: CFTC Commitments of Traders; percentiles by RogueIQ."},"method":{"window":"Expanding window from 2018-01-02 (Bitcoin from 2018-04-10) through the latest report, inclusive.","net":"Net position = the group's long contracts minus its short contracts. Spreading positions are excluded.","near_zero":"near_zero_net = true when |net| is under 1% of open interest; percentile_note then warns the percentile can swing on small changes.","since_note":"since_note says Highest/Lowest since a date only when that date is 4+ weeks back; otherwise it gives the week-on-week direction.","percentile":"Percentile = share of weekly net positions in the window that are less than or equal to this week's, times 100. Shown as 100 when this week is the highest and 0 when it is the lowest.","reports":"Futures-only reports. Financial contracts: CFTC Traders in Financial Futures (Asset Manager/Institutional and Leveraged Funds). WTI and gold: CFTC Disaggregated (Managed Money).","contracts":"One contract per market, keyed by CFTC contract market code so 2022 name changes don't break history: E-mini S&P 500 13874A, Nasdaq mini 209742, 10-year note 043602, USD Index (ICE) 098662, WTI-Physical (NYMEX) 067651, Gold (COMEX) 088691, Bitcoin (CME) 133741.","shifts":"change_wow / change_4w = change in net contracts over 1 and 4 weeks. rank_change_1w / rank_change_4w = this week's percentile minus the percentile the week 1 or 4 weeks back would have against the same history (points on the 0-100 scale). We show both side by side, so a week with a big contract move and no rank move reads, for example, \"−5,059 contracts, rank unchanged\".","labels":"Each card gets the first label that fits, checked in this order: 1) Close to flat: the net is under 1% of open interest. 2) Record: the single highest week (Most long since 2018, or Least short since 2018 when net short) or the single lowest (Most short since 2018, or Least long since 2018 when net long). 3) Top 10% of weeks: Unusually long, or Less short than usual when the group is still net short. 4) Bottom 10% of weeks: Unusually short, or Less long than usual when the group is still net long. 5) Anything else: Normal range. The wording follows the side the group is actually on, so a net long near the bottom of its range reads Less long than usual. A Close to flat card still shows its 0–100 rank and rank moves.","next_release":"The next CFTC release comes out at 3:30 PM ET, with positions as of the Tuesday before. It's a Friday unless the CFTC schedule lists a holiday delay. Dates past the published schedule are marked tentative.","dates":"report_date is the Tuesday the positions are as of. release_date is the CFTC's standard Friday release for that week; federal holidays can delay it.","updates":"Checked every Friday from 3:35 PM ET, hourly until 7:35 PM ET, then Saturday, Sunday and Monday mornings until the new week appears. The last 8 weeks are re-read each time to pick up CFTC revisions."},"methodology_url":"https://rogueiq.com/bigmoneyiq/#method","page_url":"https://rogueiq.com/bigmoneyiq/","note":"Data and percentiles are free. The plain-English reads for extreme readings are on the web page for free RogueIQ members.","disclaimer":"BigMoneyIQ is for general information and education only. It is not investment, tax or legal advice and is not a recommendation to buy, sell or hold any security, future or asset. Positioning data show how one-sided a trade is versus history and don't say when that changes. Data are from the U.S. Commodity Futures Trading Commission, may be revised, and are shown as of the dates stated; RogueIQ does not guarantee accuracy or completeness. Past patterns do not guarantee future results.","attribution":"Source: CFTC Commitments of Traders (public domain). Percentiles calculated by RogueIQ.","market":{"id":"ust10y","name":"10-year Treasury note","contract":"UST 10Y NOTE - CHICAGO BOARD OF TRADE","cftc_code":"043602","exchange":"CBOT","report":"tff","report_type":"Traders in Financial Futures (TFF), futures only","futures_only":true,"light":false,"question":"Are hedge funds short Treasuries?","answer":"Yes: hedge funds (CFTC: leveraged funds) are net short 2,262,310 contracts, the 5th percentile since 2018 (CFTC TFF futures-only report, as of Nov 3, 2026, released Nov 6, 2026).","groups":[{"id":"asset_managers","label":"Asset managers","cftc_category":"Asset Manager/Institutional","long":3730323,"short":700087,"net":3030236,"change_wow":30072,"pct_of_oi":51,"percentile_since_start":100,"percentile_display":100,"n_weeks":462,"is_record_high":true,"is_record_low":false,"record_high":{"net":3030236,"date":"2026-11-03"},"record_low":{"net":-102909,"date":"2021-10-12"},"since_note":"Highest of all 462 weeks since Jan 2, 2018","near_zero_net":false,"percentile_note":null,"range":"top_decile","change_4w":202097,"percentile_1w_ago":99.8,"percentile_4w_ago":99.1,"rank_change_1w":0,"rank_change_4w":1,"change_13w":435557,"rank_change_13w":2,"plain_label":"Most long since 2018"},{"id":"leveraged_funds","label":"Hedge funds (CFTC: leveraged funds)","cftc_category":"Leveraged Funds","long":585873,"short":2848183,"net":-2262310,"change_wow":-35035,"pct_of_oi":-38,"percentile_since_start":5,"percentile_display":5,"n_weeks":462,"is_record_high":false,"is_record_low":false,"record_high":{"net":607705,"date":"2021-10-12"},"record_low":{"net":-2534616,"date":"2025-08-26"},"since_note":"Lowest since Jan 13, 2026","near_zero_net":false,"percentile_note":null,"range":"bottom_decile","change_4w":-122525,"percentile_1w_ago":6.1,"percentile_4w_ago":7.8,"rank_change_1w":-1,"rank_change_4w":-3,"change_13w":-30640,"rank_change_13w":-1,"plain_label":"Unusually short"}],"caveats":["Positions as of Tuesday, released Friday.","Hedge fund shorts in Treasury futures mostly come from the basis trade, a funding trade that pairs short futures with long cash bonds. They are rarely a bet on higher yields.","Covers the 10-year note contract only; the Ultra 10-year (code 043607) is reported separately and excluded.","These counts are contracts, and they aren't weighted for risk. A 10-year note contract and an Ultra 10-year contract move by different amounts when yields change, so a record here can partly be money moving between Treasury contracts, such as out of the Ultra 10-year and into this one."],"source_urls":["https://www.cftc.gov/dea/futures/financial_lf.htm","https://publicreporting.cftc.gov/resource/gpe5-46if.json?cftc_contract_market_code=043602"],"report_date":"2026-11-03","release_date":"2026-11-06","history_start":"2018-01-02","has_gated_read":true,"read_teaser":"As of Nov 3, 2026, asset managers are net long 3,030,236 10-year note contracts, the largest of all 462 weeks since Jan 2, 2018. Hedge funds are net short 2,262,310, a bigger short than in 95% of those weeks.","page_url":"https://rogueiq.com/bigmoneyiq/#ust10y"}}