Ultra T-Bond Dec '19 (UDZ19)
Ultra T-Bond Futures Market News and Commentary
Dec T-notes (ZNZ19) on Friday closed down -1 tick. The 10-year T-note yield fell by -0.1 bp at 1.771%.
Dec T-notes settled little changed Friday as stronger-than-expected U.S. data and trade optimism offset the positive carry-over from a rally in European government bonds.
U.S. economic data on Friday was hawkish for Fed policy and bearish for T-notes after the Nov Markit U.S. manufacturing PMI rose +0.9 to 52.2, stronger than expectations of +0.1 to 51.4 and the fastest pace of expansion in 7 months. Also, the final-Nov University of Michigan U.S. consumer sentiment index unexpectedly rose +1.1 to a 4-month high of 96.8, stronger than expectations of unchanged at 95.7.
T-note prices were also undercut Friday by some trade optimism that boosted stocks and reduced safe-haven demand for T-notes. Trade tensions eased after Chinese President Xi Jinping said Friday that China wants to work toward a phase one trade agreement with the U.S. on the "basis of mutual respe... Read more
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