Ultra T-Bond Jun '21 (UDM21)
Ultra T-Bond Futures Market News and Commentary
Jun 10-year T-notes (ZNM21) this morning are up +3 ticks, and the 10-year T-note yield is up +1.7 bp at 1.434%.
June 10-year T-note prices this morning are modestly higher. Weakness in stocks today has spurred some have-haven buying of T-notes. T-notes also garnered some support from dovish comments from ECB members who are attempting to talk down rising bund yields.
U.S. stock indexes are lower this morning and are providing support to T-notes on negative carry-over from today's slump in China's Shanghai Stock Index to a 3-week low. Chinese stocks tumbled and undercut U.S. stock indexes after Guo Shuqing, China's top banking regulator, said he's "very worried" about risks from bubbles in global financial markets. Guo said bubbles in U.S. and European markets could burst because their rallies are heading in the opposite direction of their underlying economies and will have to face corrections "sooner or later."
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