May 31, 2018 / 5:37 PM / 3 months ago

U.S. bond, rates futures open interest tumbles for second day

May 31 (Reuters) - Open interest on U.S. Treasury and interest rate futures fell sharply on Wednesday for a second straight day, suggesting that more traders were exiting bets they had placed on bond market weakness, CME Group data released on Thursday showed.

The combined outstanding positions in CBOT Treasury and CME rates futures fell 703,461 to 29.67 million contracts on Wednesday, following a 462,065 drop on Tuesday.

Total open interest on bond and rates options, however, rose 561,119 to 49.9 million on Wednesday after a 479,376 increase the day before.

On Tuesday, prices on U.S. bond and rates futures jumped on record volume as investors piled into them in a safe-haven stampede prompted by concerns about a global trade war and political turmoil in Italy.

On Wednesday, trading volume in bond and rates futures and options retreated to 21.78 million contracts from a record high of 39.65 million set on Tuesday, according to CME data.

Total futures and options futures on CME exchanges stood at 31.14 million contracts, far fewer than the all-time peak of 51.89 million totaled on Tuesday. (Reporting by Richard Leong; Editing by David Gregorio)

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