According to data from the Commodity Futures Trading Commission (CFTC), asset managers were broadly bullish on US Treasury futures in the week ending June 16, significantly increasing their net long positions, particularly at the long end of the curve. Conversely, hedge funds increased their net short positions across several Treasury futures maturities.

During that week, asset managers' combined net long positions increased by $20.2 million per DV01 from 10-year Treasury futures to ultra-long-term contracts. The majority of this net increase was seen in long-term Treasury futures, where long positions rose by approximately $9 million per DV01.

Hedge funds were most bearish on 10-year Treasury futures for the week, increasing their net short positions by $6.5 million per DV01. Their net short positions in long-term Treasury futures also grew by nearly $4 million per DV01.