Open interest drop signaled shortcovering in U.S. bond market
October 16, 2014 at 09:28 AM EDT
NEW YORK, Oct 16 (Reuters) - The huge decline in open interest in U.S. bond and Eurodollar futures signaled a scramble on Wednesday to exit bearish bets on U.S. Treasuries and interest rates, which knocked benchmark 10-year yields to 16-month lows, according to data from the CME Group.
