* Speculative ultra bond net shorts hit record high * Speculators raise Eurodollar net longs to most since Oct 2015 (Adds background, details) May 17 (Reuters) - Speculators' net bearish bets on U.S. 10-year Treasury note futures rose earlier this week after China and the United States increased tariffs on each other's goods, 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 352,817 contracts on May 14, according to the CFTC's latest Commitments of Traders data.

A week earlier, speculators held 330,562 net short positions in 10-year T-note futures.

Speculators also increased their net shorts in T-bond futures to 45,943 contracts, a five-month high, while their net shorts in ultra bonds hit a record peak at 333,509 contracts.

On Monday, Beijing said it planned to set import tariffs ranging from 5% to 25% on 5,140 U.S. products on a revised $60-billion target list. It said the tariffs would take effect on June 1.

China's retaliatory measure followed Washington's tariff increase on $200 billion of Chinese imports a week ago as talks between the world's biggest economies unexpectedly broke down. U.S. President Donald Trump has said the Chinese government backtracked on commitments it made during months of negotiations.

Fears of a trade war rattled stock markets around the world, spurring safe-haven demand for Treasuries, gold and yen.

Benchmark 10-year Treasury note yields fell to a six-week low of 2.354% this week, while two-year yields touched a 15-month low at 2.139%.

Shorter-dated Treasury yields have fallen and interest rates futures prices have risen on increased expectations the Federal Reserve may lower key lending rates to combat any economic slowdown from trade disputes between the United States and its trading partners.

Speculators pared their net shorts in two-year T-note futures to 33,305 contracts on Tuesday, a 10-month low.

Speculative net longs in Eurodollar futures increased to 520,230 contracts, the highest since Oct. 18, 2015. While speculative net shorts in federal fund futures decreased to 113,468 contracts, the lowest in two months.

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) 14 May 2019 Prior week week Long 1,163,038 1,120,368 Short 1,196,343 1,188,257 Net -33,305 -67,889 U.S. 5-year T-notes (Contracts of $100,000) 14 May 2019 Prior week week Long 811,771 807,239 Short 949,674 940,000 Net -137,903 -132,761 U.S. 10-year T-notes (Contracts of $100,000) 14 May 2019 Prior week week Long 616,402 577,607 Short 969,219 908,169 Net -352,817 -330,562 U.S. T-bonds (Contracts of $100,000) 14 May 2019 Prior week week Long 147,150 152,449 Short 193,093 187,474 Net -45,943 -35,025 U.S. Ultra T-bonds (Contracts of $100,000) 14 May 2019 Prior week week Long 84,555 102,716 Short 418,064 416,863 Net -333,509 -314,147 Eurodollar (Contracts of $1,000,000) 14 May 2019 Prior week week Long 1,769,489 1,751,238 Short 1,249,259 1,345,478 Net 520,230 405,760 Fed funds (Contracts of $1,000,000) 14 May 2019 Prior week week Long 228,346 134,291 Short 341,814 290,015 Net -113,468 -155,724 (Reporting by Richard Leong Editing by James Dalgleish and Jonathan Oatis)