For investors that are looking to keep track of market positioning, Bespoke’s The Closer is an extremely helpful resource. Each Friday, we update commodities market positioning as reported to the Commodity Futures Trading Commission (CFTC). We segment market positioning by investor type, and show how long or short – on net – investors are, as a share of open interest, a measure of outstanding futures contracts. Click on the thumbnail below to see last Friday’s report; the positioning data is available on pages 4 and 5.
Yesterday, Bespoke introduced a new series of positioning indices, this time for financial futures. Financial futures have a slightly different disclosure profile than commodity futures, so to show market positioning, we include both “Asset Manager” and “Leveraged Fund” designations for both categories. Asset managers are generally unlevered or low leverage institutional investors like mutual funds, pensions, and the like. Leveraged funds are for the most part hedge funds. Click on the thumbnail below to see yesterday’s report; the positioning data is available on pages 2 to 5. Going forward, both the positioning data for commodities and financial futures will be included as part of The Closer report each Friday. To receive these valuable weekly updates of positioning across equity index, bond, short term interest rate, currency, and commodity futures, subscribe to Bespoke Institutional today!