10-Year T-Note Jun '20 (ZNM20)
10-Year T-Note Futures Market News and Commentary
Mar 10-year T-notes (ZNH21) this morning are down -4.5 ticks, and the 10-year T-note yield is up +2.5 bp at 1.109%.
March 10-year T-note prices this morning are moving lower as a rally in stocks curbs the safe-haven demand of T-notes. T-note prices are also being undercut by higher 10-year German bund yields and rising inflation expectations.
Stocks are climbing this morning and weighing on T-note prices. Stocks rose on expectations that Treasury Secretary nominee Yellen will support President-elect Biden's large-scale stimulus plan. Yellen will give testimony later this morning at her confirmation hearing before the Senate Finance Committee.
Comments today from incoming National Economic Council director Deese were supportive for T-notes when he said the U.S. economy is "spiraling downward" with 140,000 jobs lost last month, retail sales in December falling for the third month, and the latest jobless claims rising to a 5-month high.
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