(Bloomberg) Hedge funds and other large speculators set the biggest bet on benchmark Treasuries in more than three years, suggesting they’re confident a record-setting rally has further to run.
Traders boosted their positions in 10-year futures to a net 185,521 contracts last week, the most since December 2012, according to data from the Commodity Futures Trading Commission. Their conviction is being tested Monday as Treasuries slipped in Asia after Federal Reserve Bank of New York President William Dudley said investors are underestimating how many times the central bank will raise interest rates.
