Financials Futures Prices
- Safe Haven Buying Supports The US Dollar
Safe haven flows extended U.S. dollar gains, while riskier currencies sold off.
- USDCAD UPDATE: Corrective Pause In Play
USDCAD started recovering nicely from the lows, and above the upper Elliott wave channel line, which confirms a completed wave 3) of a bearish trend,...
- New Home Sales Help
Yesterday the markets flip flopped between postive and negative territory. By the end ofthe day it migrated to the Upside. Will that continue today? Read...
- Gold Declines Below $1,900 amid Stronger Corona and Dollar
For the time being, things are not looking good, my bull friends. The bearish trend in the gold market continues. As the chart below shows, we saw a...
- Fed Chair Powell on Capitol Hill Today
The main event today will be Federal Reserve Chairman Jerome Powells testimony before the Senate Banking Committee on the CARES Act at 9:00 central time....
- The Nemenoff Report 09/24/2020
Financials: As of this writing (6:30 am) December Bonds are up 0’9 at 176’19, 10 Yr. Notes up 0′ 01.5 at 139’17.5 and the 5 [...]
Futures Market News and Commentary
Dec 10-year T-notes (ZNZ20) on Friday closed up +2 ticks, and the 10-year T-note yield fell -0.7 bp to 0.659%.
Dec 10-year T-note prices on Friday closed slightly higher and were underpinned the entire day by strength in 10-year German bunds. T-notes also garnered support on mixed U.S. economic data along with bond dealer short-covering after this week's $177 billion of T-note and floating-rate note Treasury auctions.
Gains in T-notes were limited Friday on a rally in U.S. stock indexes. Strength in technology stocks on Friday boosted the overall market and was a negative for T-notes.
Friday's U.S. economic data was mixed for T-note prices. U.S. Aug durable goods orders rose +0.4% m/m, weaker than expectations of +1.5% m/m. Also, Apr durables ex-transportation rose +0.4% m/m, weaker than expectations of +1.0% m/m. Conversely, Aug capital goods orders nondefense ex-aircraft, a proxy for capital spending, rose +1.8% m/m, stronger than expectations of +1.0% m/m. Read more