Eurodollar Futures Market News and Commentary
Jun T-notes (ZNM20) on Monday closed down -23.5 ticks. The 10-year T-note yield rose +7.3 bp to 0.668%.
Jun 10-year T-note prices on Monday closed lower as stocks rallied on hopes the coronavirus pandemic may be peaking after reported death tolls in some of the world's coronavirus hotspots showed signs of easing. Italy and Spain reported the fewest deaths in more than two weeks on Sunday and France and Germany reported the lowest number of deaths from the virus in days. Also, the number of deaths in New York on Saturday of 594 fell from 630 on Friday. Confirmed cases of the coronavirus have risen above 1,325,000 globally with deaths exceeding 73,000.
T-note prices opened lower on negative carry-over from late Friday when the Fed said it will reduce its pace of Treasury buying to $50 billion per day during April 6-9 from $60 billion on Apr 2-3.
Supply pressures also weighed on T-note prices as the Treasury on Monday auctioned $40 billion of 3-year T-notes as part... Read more