UPDATE 1-Speculative U.S. 5-year, 10-year T-note net shorts hit record highs -CFTC

-CFTC@

* Hedge funds' 10-year T-note net shorts hit record high

* Players worry about BOJ cutting back monetary stimulus

(Adds details on latest data) July 27 (Reuters) - Speculators' net bearish bets on U.S. 5-year and 10-year Treasury note futures rose to record highs this week following reports the Bank of Japan may reduce its easy monetary policy, according to Commodity Futures Trading Commission data released on Friday. The amount of speculators' bearish, or short, positions in 10-year Treasury futures exceeded bullish, or long, positions by 509,498 contracts on July 24, according to the CFTC's latest Commitments of Traders data. A week earlier, speculators held 469,138 net short positions in 10-year T-note futures. Moreover, speculative net shorts in five-year T-notes rose to an all-time peak of 715,965 on Tuesday. Benchmark 10-year Treasury yield increased this week, touching 2.988 percent on Friday, which was its highest level in more than six weeks. 10-year T-notes to a record peak at 718,962 contracts on Tuesday from 691,901 a week earlier, the CFTC data showed. Asset managers pared their net longs to 825,422 contracts, the lowest in four weeks, from 877,314 the week before. Bond dealers scaled back their net shorts to 123,186 contracts, the lowest in 11 weeks, from 188,136 a week ago. Below is a table of the speculative positions in Treasury futures on the Chicago Board of Trade and in Eurodollar futures on the Chicago Mercantile Exchange in the latest week: U.S. 2-year T-notes (Contracts of $200,000)

24 Jul 2018 Prior week

week

Long 474,314 472,761 Short 523,371 491,904 Net -49,057 -19,143

U.S. 5-year T-notes (Contracts of $100,000)

24 Jul 2018 Prior week

week

Long 543,916 551,727 Short 1,259,881 1,250,682 Net -715,965 -698,955

U.S. 10-year T-notes (Contracts of $100,000)

24 Jul 2018 Prior week

week

Long 526,182 518,429 Short 1,035,680 987,567 Net -509,498 -469,138

U.S. T-bonds (Contracts of $100,000)

24 Jul 2018 Prior week

week

Long 146,040 158,309 Short 143,635 141,331 Net 2,405 16,978

U.S. Ultra T-bonds (Contracts of $100,000)

24 Jul 2018 Prior week

week

Long 88,725 82,919 Short 301,399 292,828 Net -212,674 -209,909

Eurodollar (Contracts of $1,000,000)

24 Jul 2018 Prior week

week

Long 844,905 835,721 Short 4,012,838 4,123,386 Net -3,167,933 -3,287,665

Fed funds (Contracts of $1,000,000)

24 Jul 2018 Prior week

week

Long 295,085 281,734 Short 140,034 154,587 Net 155,051 127,147

(Reporting by Richard Leong Editing by Susan Thomas and Will Dunham)