NEW YORK, Dec 2 (Reuters) - Speculators trimmed net bearish bets on U.S. 10-year and two-year Treasury note futures in the latest week, according to Commodity Futures Trading Commission data released on Friday. Net short position in U.S. 10-year futures fell to 296,772 contracts in the week ended Nov. 29, compared with 321,256 net shorts in the previous week, according to the CFTC's latest Commitments of Traders data. On the shorter end of the curve, net short positioning on U.S. two-year note futures slid to 528,178, from net shorts of 566,995 the week before. The decline in net short positions, or bets that Treasury prices will fall leading to a rise in yields, was in line with expectations that the Federal Reserve will slow the pace of its rate hikes as it tries to engineer a softer landing for the world's largest economy. On Wednesday, Fed Chair Jerome Powell said the U.S. central bank could ease the pace of interest rate hikes "as soon as December" but warned that the fight against inflation is far from over. Since the beginning of November, U.S. two-year yields have dropped by about 70 basis points (bps), while 10-year yields have plunged about 73 bps. 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) Prior week 29 Nov 2022 week Long 156,249 168,580 Short 684,427 735,575 Net -528,178 -566,995 U.S. 5-year T-notes (Contracts of $100,000) Prior week 29 Nov 2022 week Long 316,986 334,470 Short 846,335 858,124 Net -529,349 -523,654 U.S. 10-year T-notes (Contracts of $100,000) Prior week 29 Nov 2022 week Long 469,072 473,384 Short 765,844 794,640 Net -296,772 -321,256 U.S. T-bonds (Contracts of $100,000) Prior week 29 Nov 2022 week Long 47,371 60,382 Short 151,288 150,866 Net -103,917 -90,484 U.S. Ultra T-bonds (Contracts of $100,000) Prior week 29 Nov 2022 week Long 60,228 76,599 Short 449,632 453,610 Net -389,404 -377,011 Eurodollar (Contracts of $1,000,000) Prior week 29 Nov 2022 week Long 520,547 564,913 Short 2,229,899 2,390,208 Net -1,709,352 -1,825,295 Fed funds (Contracts of $1,000,000) Prior week 29 Nov 2022 week Long 183,039 196,688 Short 216,891 185,515 Net -33,852 11,173 (Reporting by Gertrude Chavez-Dreyfuss in New York Editing by Matthew Lewis)