10-Year T-Note Futures Market News and Commentary
Dec T-notes (ZNZ19) on Thursday closed down -10 ticks. The 10-year T-note yield rose by +2.7 bp at 1.772%.
Dec T-notes retreated from a 2-1/2 week high posted in overnight trade and closed lower Thursday as stocks pared losses on some trade optimism. Trade tensions eased Thursday morning after Chinese Vice Premier Liu He, China's chief trade negotiator, said he was "cautiously optimistic" about reaching a phase-one trade deal with the U.S. Also, the South China Morning Post reported Thursday that the U.S. may delay tariffs set for Dec 15 if a trade deal hasn't been reached by then.
Trade tensions earlier ratcheted higher late Wednesday, which boosted T-notes in overnight trade to a 2-1/2 week high and knocked the 10-year T-note yield down to a 2-1/2 week low of 1.706%, after Congress Wednesday evening passed legislation supporting Hong Kong protesters that President Trump is expected to soon sign into law. China has vowed to retaliate for the legislation, sparking fear... Read more