Ultra T-Bond Futures Market News and Commentary
Jun T-notes (ZNM20) on Friday closed up +17 ticks. The 10-year T-note yield fell -12.9 bp to 0.716%.
Jun 10-year T-note prices on Friday moved higher as a slide in stocks sparked safe-haven demand for T-notes. Also, higher European bond prices underpinned T-notes.
U.S. stock indexes were weaker the entire day Friday, which was bullish for T-notes. Stock indexes fell back after cases of the coronavirus in the U.S. surpassed China and show no sign of slowing down. The U.S. now has 96,968 confirmed cases compared with China's 81,340. Globally, confirmed cases of the coronavirus have risen above 585,000 with deaths exceeding 26,000. The global number of coronavirus cases shows no signs of slowing as it took 67 days to reach the first 100,000 reported cases. Since then, the next 100,000 jump from 400,000 to 500,000 cases took just 48 hours.
Global central banks continue to cut interest rates and boost QE measures in an attempt to contain the economic fallout from the... Read more