10-Year T-Note Dec '20 (ZNZ20)
10-Year T-Note Futures Market News and Commentary
Dec 10-year T-notes (ZNZ20) on Tuesday closed up +6.5 ticks. The 10-year T-note yield fell by -2.8 bp to 0.773%.
Dec 10-year T-note prices on Tuesday climbed to a 1-week high, and the 10-year T-note yield fell to a 1-week low of 0.768%. Strength in 10-year German bunds on Tuesday underpinned T-note prices. T-notes also found support after stocks on Tuesday gave up most of their overnight gains. Tuesday's better-than-expected U.S. economic data limited gains in T-notes along with supply pressures as the Treasury on Tuesday auctioned $54 billion of 2-year T-notes.
The chances have diminished for a U.S. pandemic relief package before next week's election. House Speaker Pelosi and Treasury Secretary Mnuchin were unable to come to an agreement Monday on a new U.S. pandemic relief package, which is negative for stocks and positive for T-notes. U.S. senators left Washington Monday night for a pre-election break, further reducing the chances of any near-term stimulus bill.... Read more
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