According to the CFTC weekly data for the week ended Tuesday, net shorts in the euro fell by 38% from last week’s record high and are now at a 6 week low. Net shorts in the pound moved up a touch to just shy of its record high. Net longs in the Australian$ rose to the most since May ’08 and net longs in the Canadian$ rose to the highest since Nov ’07. Gold new longs fell to a 4 week low. Net longs in crude rose 14% and are just 12k contracts from a record high dating back to 1983. Net shorts in natural gas reached a record high dating back to 1993. Coincident with the rise in 2 yr yields (and flattening of the yield curve), net longs in the 2 yr note fell to the lowest since July ’09 and net shorts in the 10 yr fell to the lowest since Dec ’09.