10-Year T-Note Futures Market News and Commentary
Dec 10-year T-notes (ZNZ20) on Friday closed up +1 tick. The 10-year T-note yield fell by -1.5 bp to 0.841%.
Dec 10-year T-note prices on Friday recovered from early losses and closed slightly higher. The 10-year T-note yield on Friday initially rose to a new 4-1/2 month high of 0.870% but fell back down to 0.841%. T-notes on Friday initially opened lower on weakness in German bunds but recovered their losses on a lack of progress in stimulus talks and on weaker-than-expected U.S. manufacturing PMI data.
Friday's U.S. manufacturing data was slightly weaker-than expectations and was positive for T-notes. The U.S. Oct Markit manufacturing PMI rose +0.1 to 53.3, weaker than expectations of +0.3 to 53.5 but still the fastest pace of expansion in 1-3/4 years.
T-notes saw support on a lack of progress in the pandemic stimulus talks in Washington. White House economic advisor Kudlow said Friday that "the ball's not moving much right now" on talks for another round of p... Read more