T-Bond Futures Market News and Commentary
Dec T-notes (ZNZ19) this morning are up +8 ticks. The 10-year T-note yield is down by -6.3 bp to 1.872%.
Dec T-note prices are moving higher today on carry-over support from a rally in European government bonds and on a smaller-than-expected increase in the U.S. Oct core CPI.
Today's Oct core CPI eased to +2.3% y/y from Sep's +2.4% y/y and was slightly weaker than market expectations of +2.4% y/y. However, the headline Oct CPI rose slightly to +1.8% from Sep's +1.7% and was slightly stronger than expectations of +1.7%.
The UK 10-year gilt yield is down -6.3 bp today at a 4-session low of 0.743% on weak price pressures in the UK. Today's UK Oct CPI eased to a 2-3/4 year low of +1.5% y/y, slightly weaker than expectations of +1.6%. The rally in gilts also gave German bunds a boost as the 10-year German bund yield fell-4.6 bp today to a 4-session low of -0.298%.
A slide in global equity markets today is also providing support for T-note prices. Uncertainty a... Read more