NEW YORK: The last time hedge funds and asset managers were this split on the future for benchmark treasuries was when the US Federal Reserve’s (Fed) tightening cycle was about to peak in late 2018. According to the latest data from the Commodity Futures Trading Commission net-short leveraged fund positions in 10-year futures have grown to their largest since 2019. Their more bullish institutional investor counterparts, however, have seen net long positions climb to a record in data going back to 2006.