Ultra T-Bond Futures Market News and Commentary
The S&P 500 Index ($SPX) on Tuesday closed down -0.47%, the Dow Jones Industrials Index ($DOWI) closed down -0.24%, and the Nasdaq 100 Index ($IUXX) closed down -1.12%. U.S. stock indexes fell on negative carry-over from a -2.49% plunge in China’s Shanghai Composite Stock Index on Tuesday to a 3-1/2 month low. Chinese stocks tumbled for the third session as the Chinese government’s regulatory crackdown widens to other sectors of the economy. The worsening pandemic is another negative factor for stocks. Tuesday’s U.S. economic data was mixed and had a limited impact on stock prices.
Sep T-notes (ZNU21) on Tuesday closed up +8.5 ticks, and the 10-year T-note yield fell -5.6 bp to 1.234%. The slump in global equity markets on Tuesday boosted the safe-haven demand for T-notes. T-notes also garnered support Tuesday on concern that the worldwide spread of the delta Covid variant will undercut global growth. Tuesday’s U.S. economic data was mixed for T-notes. Supply pressures... Read more