10-Year T-Note Sep '20 (ZNU20)
10-Year T-Note Futures Market News and Commentary
Sep T-notes (ZNU20) on Tuesday closed up +6.5 ticks. The 10-year T-note yield fell -0.4 bp to 0.614%.
Sep 10-year T-note prices on Tuesday traded sideways with moderate gains the entire day. Coronavirus concerns boosted T-note prices, as did dovish comments from Fed Governor Brainard. Gains were limited as strength in stocks curbed safe-haven demand for T-notes.
The resurgence of Covid infections is prompting tighter rules in the U.S. and around the world, which could slow economic growth and is dovish for Fed policy. California, on Monday, said it would close all indoor dining and bars. The EU said it would recommend keeping its borders shut to the U.S. and most other foreigners for at least two more weeks. Hong Kong said it would limit public gatherings to a maximum of four people. Confirmed cases of the virus have risen above 13.265 million globally, with deaths exceeding 576,000.
Comments today from Fed Governor Brainard suggest she favors additional Fed sti... Read more
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