Ultra T-Bond Futures Market News and Commentary
Sep T-notes (ZNU20) on Wednesday closed down -0.5 of a tick. The 10-year T-note yield rose +1.1 bp to 0.651%.
Sep 10-year T-note prices on Wednesday settled little changed as dovish Fed comments offset strength in stocks. Also, supply pressures weighed on T-notes as the Treasury on Wednesday auctioned $29 billion of reopened 10-year T-notes. Strength in German bunds on Wednesday limited losses in T-notes.
U.S stocks on Wednesday posted moderate gains, which was negative for safe-haven demand for T-notes. The ongoing coronavirus pandemic, however, continues to underpin T-notes. Confirmed cases of the virus have risen above 11.98 million globally, with deaths exceeding 547,000.
T-notes recovered most of their losses Wednesday on comments from Atlanta Fed President Bostic, who said that spikes in coronavirus infection rates across the country are "creating concern about how quickly and how robustly" the economy's reopening will play out.
Wednesday's U.S. eco... Read more