2-Year T-Note COT Report
CFTC Commitments of Traders · positions as of Tuesday 2026-09-01, released Sep 4, 2026 (the CFTC reports each Tuesday's close three days later) · next release Sep 11, 2026 (regular cycle; see the release schedule for holiday shifts)
2-Year T-Note positioning leans bearish - commercials selling (26w index 0), speculators crowded long (3y index 98).
How this read is built
- Commercials (hedgers) are net long and sit near the bottom of their 26-week range (COT index 0) - a bearish tilt in the traditional read.
- Large speculators are net short near the top of their 3-year range (index 98) - a crowded long, which historically leans bearish for the setup.
A description of how traders are positioned versus their own history - the standard Commitments of Traders interpretation, computed identically for every market. It is not a price forecast, a trading signal, or advice. How traders use positioning · how the read is computed.
As of the COT report, large speculators are net short 882,518 2-Year T-Note futures contracts (down 21,222 week-over-week), commercials are net long 834,100, and open interest is 4,348,838 contracts. Leveraged funds was net short 1,268,034 contracts as of (down 35,281 week-over-week).
Cite this data
FuturesBench, "2-Year T-Note COT Report," data as of 2026-09-01. https://futuresbench.com/cot/2-year-treasury/#net-position Source: CFTC Commitments of Traders (public domain). CSV: https://futuresbench.com/data/cot/2-year-treasury.csv
Embed this chart
<iframe src="https://futuresbench.com/embed/cot/2-year-treasury/" width="100%" height="560" frameborder="0" loading="lazy" title="2-Year T-Note COT Report chart - FuturesBench"></iframe>
Positioning - as of Tuesday 2026-09-01
| Trader category | Net position | Weekly change | % of open interest | COT index 26w | COT index 52w | COT index 3y |
|---|---|---|---|---|---|---|
| Large speculators | -882,518 | -21,222 | -20.3% | 97.6 | 97.6 | 97.6 |
| Commercials | 834,100 | -30,624 | 19.2% | 0.0 | 0.0 | 5.3 |
| Small traders | 48,418 | +51,846 | 1.1% | 46.9 | 30.1 | 22.3 |
Net = long − short (spread positions cancel). COT index: 0 = most net-short of the lookback, 100 = most net-long. How it's computed.
This week in numbers
- Small traders net position rose by 51,846 contracts to 48,418 - the largest weekly change since 2025-11-25.
- Small traders flipped to net long (48,418 contracts) as of 2026-09-01.
- Commercials net position is at a 52-week low (834,100 contracts).
- Open interest fell 7.0% week-over-week to 4,348,838 contracts.
Every sentence above is computed from the stored series - no commentary, no forecasts.
Traders in Financial Futures report - positions as of Tue 2026-09-01
| Trader category | Net position | Weekly change | % of open interest | COT index 26w | COT index 52w | COT index 3y |
|---|---|---|---|---|---|---|
| Dealer/intermediary | -434,362 | +17,234 | -10.0% | 54.0 | 38.5 | 23.8 |
| Asset manager | 1,596,436 | -12,420 | 36.7% | 0.0 | 0.0 | 31.8 |
| Leveraged funds | -1,268,034 | -35,281 | -29.2% | 96.7 | 96.7 | 97.6 |
| Other reportables | 57,542 | -21,379 | 1.3% | 0.0 | 0.0 | 18.7 |
| Small traders | 48,418 | +51,846 | 1.1% | 46.9 | 30.1 | 22.3 |
Full Traders in Financial Futures report history: CSV · switch the chart above to this report family for the full series.
Recent history
| Report date | Open interest | Large spec net | Δ | Commercial net | Δ | Small trader net |
|---|---|---|---|---|---|---|
| 2026-09-01 | 4,348,838 | -882,518 | -21,222 | 834,100 | -30,624 | 48,418 |
| 2026-08-25 | 4,678,195 | -861,296 | +66,041 | 864,724 | -23,592 | -3,428 |
| 2026-08-18 | 4,432,451 | -927,337 | +93,706 | 888,316 | -84,919 | 39,021 |
| 2026-08-11 | 4,377,812 | -1,021,043 | -16,815 | 973,235 | +6,948 | 47,808 |
| 2026-08-04 | 4,400,315 | -1,004,228 | +120,346 | 966,287 | -110,212 | 37,941 |
| 2026-07-28 | 4,406,588 | -1,124,574 | +30,023 | 1,076,499 | -11,307 | 48,075 |
| 2026-07-21 | 4,335,075 | -1,154,597 | +2,880 | 1,087,806 | +3,546 | 66,791 |
| 2026-07-14 | 4,465,199 | -1,157,477 | +103,531 | 1,084,260 | -98,213 | 73,217 |
| 2026-07-07 | 4,460,937 | -1,261,008 | +26,573 | 1,182,473 | -36,802 | 78,535 |
| 2026-06-30 | 4,490,379 | -1,287,581 | +31,265 | 1,219,275 | -28,437 | 68,306 |
| 2026-06-23 | 4,536,973 | -1,318,846 | -48,339 | 1,247,712 | +49,303 | 71,134 |
| 2026-06-16 | 4,303,653 | -1,270,507 | -50,669 | 1,198,409 | +42,133 | 72,098 |
| 2026-06-09 | 4,276,371 | -1,219,838 | +130,350 | 1,156,276 | -159,482 | 63,562 |
| 2026-06-02 | 4,331,344 | -1,350,188 | -94,942 | 1,315,758 | +115,085 | 34,430 |
| 2026-05-26 | 4,960,871 | -1,255,246 | +305,591 | 1,200,673 | -297,469 | 54,573 |
| 2026-05-19 | 4,938,650 | -1,560,837 | +41,775 | 1,498,142 | -22,617 | 62,695 |
| 2026-05-12 | 4,796,510 | -1,602,612 | +70,717 | 1,520,759 | -69,550 | 81,853 |
| 2026-05-05 | 4,747,995 | -1,673,329 | +35,934 | 1,590,309 | -35,370 | 83,020 |
| 2026-04-28 | 4,737,135 | -1,709,263 | +34,090 | 1,625,679 | -34,447 | 83,584 |
| 2026-04-21 | 4,696,151 | -1,743,353 | -39,547 | 1,660,126 | +34,316 | 83,227 |
| 2026-04-14 | 4,697,992 | -1,703,806 | +8,209 | 1,625,810 | -13,168 | 77,996 |
| 2026-04-07 | 4,705,605 | -1,712,015 | -74,691 | 1,638,978 | +66,905 | 73,037 |
| 2026-03-31 | 4,722,869 | -1,637,324 | +855 | 1,572,073 | +16,306 | 65,251 |
| 2026-03-24 | 4,770,492 | -1,638,179 | -155,512 | 1,555,767 | +173,393 | 82,412 |
| 2026-03-17 | 4,737,969 | -1,482,667 | -144,431 | 1,382,374 | +151,175 | 100,293 |
| 2026-03-10 | 4,626,984 | -1,338,236 | +305 | 1,231,199 | -1,710 | 107,037 |
Full history, no login: CSV (1990-06-29 → 2026-09-01) · JSON
Contract facts
FAQ
- Are large speculators long or short 2-Year T-Note futures?
- As of the 2026-09-01 COT report, large speculators (non-commercial traders) are net short 882,518 contracts in 2-Year T-Note futures.
- How current is this 2-Year T-Note COT data?
- The latest report is dated 2026-09-01 (positions as of that Tuesday's close), published by the CFTC on 2026-09-04. This page updates within minutes of each weekly release.
- Where can I download 2-Year T-Note COT history?
- The full weekly series (1990-06-29 to 2026-09-01) is free at /data/cot/2-year-treasury.csv - no login, no cap.
Learn: how to read this report · commercials vs non-commercials · glossary
Related markets
Source: CFTC Commitments of Traders, legacy futures-only report, contract code 042601. Dataset coverage 1990-06-29 → 2026-09-01. Methodology.