Eurodollar Futures Market News and Commentary
Sep T-notes (ZNU20) on Friday closed down -9 ticks. The 10-year T-note yield rose +2.1 bp at 0.635%.
Sep 10-year T-note prices on Friday fell back from a 3-3/4 month nearest-futures high and closed lower after a recovery in stocks fueled long liquidation in T-notes. The 10-year T-note yield fell to a 2-1/2 month low of 0.568% early Friday after an overnight slump in stocks on coronavirus concerns boosted T-notes. However, the T-note yield jumped higher and finished up +2.1 bp at 0.635% as stocks rebounded on Friday morning's positive treatment news for the coronavirus.
U.S stocks early Friday initially posted moderate losses on concern that the record number of coronavirus infections in the U.S. will lead to more lockdowns that delay the reopening of the economy. The U.S. reported a record of 61,791 new coronavirus infections on Thursday. Florida, Texas, and California all reported record deaths from the virus. Confirmed cases of the virus have risen above 12.421 milli... Read more