5-Year T-Note Futures Market News and Commentary
Jun 10-year T-notes (ZNM21) on Friday closed down -9 ticks. The 10-year T-note yield fell by -0.5 bp to 1.571%.
June 10-year T-note prices (ZNM21) on Friday closed moderately lower. Weakness in German bunds on Friday weighed on T-note prices. Also, a rally in U.S. stock indexes to new all-time highs on Friday curbed the safe-haven demand for T-notes. T-notes fell to their lows after Friday's stronger-than-expected U.S. housing data was released.
The S&P 500, Dow Jones Industrials, and Nasdaq 100 climbed to new record highs Friday and weighed on T-notes. Signs of strength in China's economy are positive for global growth prospects, bullish for stocks, and negative for T-notes. China's Q1 GDP expanded by a record +18.3% y/y (data from 1978), but still weaker than expectations of +18.5% y/y. Also, China Mar industrial production rose +14.1%y/y, the largest increase in 9-3/4 years but weaker than expectations of +18.0% y/y. In addition, China Mar reta... Read more