Eurodollar Futures Market News and Commentary
Dec T-notes (ZNZ19) on Thursday closed up +9 ticks. The 10-year T-note yield fell by -6.6 bp to 1.820%.
Dec T-note prices rallied to a 1-week high Thursday on positive carry-over from a rally in European bond markets along with weak stocks that has boosted safe-haven demand for T-notes.
Lower European bond yields gave T-note prices a boost Thursday. The German 10-year bund yield fell -5.1 bp Thursday to a 1-week low of -0.354% and the UK 10-year gilt yield fell -5.1 bp to a 1-week low of 0.707%.
Trade tensions undercut stocks Thursday and sparked safe-haven demand for T-notes after China's Commerce Ministry said Thursday that removing existing tariffs was an important condition for any trade deal. Also, Bloomberg reported Thursday that a U.S. demand that China detail how it plans to reach $50 billion in agricultural imports annually has become a sticking point in negotiations on a phase new trade deal, reiterating the Wall Street Journal's similar report on Wedn... Read more