10-Year T-Note Futures Market News and Commentary
Mar T-notes (ZNH20) on Wednesday closed up +11.5 ticks. The 10-year T-note yield fell by -5.8 bp at 1.784%.
Mar T-notes moved higher Wednesday on the outlook for the Fed to remain on hold for the foreseeable future without a rate hike, along with trade uncertainties that are boosting the safe-haven demand for T-notes.
The FOMC as expected Wednesday left the fed funds target range unchanged at 1.50%-1.75% and said interest rates are "appropriate" to support growth and jobs. The Fed's dot-pot forecasted no interest rate changes in 2020. A slight negative for T-notes was the action by the FOMC in its post-meeting statement Wednesday to remove the reference to "uncertainties" about the economic outlook.
Fed Chair Powell said Wednesday that the current stance of monetary policy will support growth and jobs, which signals steady Fed policy over the medium-term. T-notes added to their gains Wednesday afternoon when Fed Chair Powell said that a "significant and persiste... Read more