Ultra T-Bond Futures Market News and Commentary
Mar T-notes (ZNH20) on Friday closed up +16 ticks. The 10-year T-note yield fell -4.2 bp to 1.691%.
Mar T-note prices on Friday rallied to a 2-3/4 month high and the 10-year T-note yield slid to a 2-1/2 month low of 1.668% on increased safe-haven demand tied to the sharp sell-off in stocks and concern about the spreading China virus. Also, a rally in global government bond markets gave T-notes a boost.
The S&P 500 sold off to a 1-week low Friday on concern about the spreading China coronavirus. France reported the first 2 cases in Europe Friday and the U.S. reported that 2 more people were infected by the virus. More than 900 cases of the coronavirus have been reported thus far with 26 deaths. The spread of the virus throughout the world may crimp global economic growth and prompt the Fed to boost stimulus measures.
The 10-year German bund yield fell -2.7 bp Friday and posted a new 1-1/2 month low of -0.337% on dovish comments from ECB Governing Council member R... Read more