5-Year T-Note Futures Market News and Commentary
Jun T-notes (ZNM20) this morning are up +20 ticks. The 10-year T-note yield is down -7.9 bp at 0.591%.
Jun 10-year T-note prices this morning rallied to a 3-week high and the 10-year T-note yield dropped to a 3-week low of 0.586% as coronavirus concerns hammer stocks.
Stocks sold off and T-notes rallied today after President Trump late Tuesday warned of "a painful two weeks" for Americans as the spread of coronavirus in the U.S. has yet to peak. The model referenced by the White House projects the pandemic could caused as many as 240,000 deaths. Market volatility remains elevated as the coronavirus pandemic continues to expand throughout the world. Confirmed cases of the virus have risen above 873,000 with deaths exceeding 43,000.
Comments Tuesday night from Cleveland Fed President Mester were bullish for T-notes when she said she expects to see some "very bad" numbers on the economy with U.S. unemployment rising north of 10% due to the coronavirus.
Comme... Read more