10-Year T-Note Futures Market News and Commentary
Sep T-notes (ZNU20) this morning are down -3 ticks. The 10-year T-note yield is up +1.3 bp to 0.672%.
10-year T-notes this morning are slightly lower as a rally in global equity markets undercuts safe-haven demand for government debt. Also, supply pressures are weighing on T-note prices today with several companies issuing corporate debt. The slate for new issuance remains high with another ten corporate borrowers looking to issue new debt today after issuers sold $18.2 billion of debt across 20 tranches on Monday, led by a $10 billion offering from Amazon.com.
Coronavirus concerns continue to boost safe-haven demand for T-notes. Confirmed cases of the coronavirus have risen above 6.394 million globally, with deaths exceeding 378,000.
Lower bund yields are limiting losses in T-note prices. The 10-year German bund yield today is down -1.2 bp at -0.413%. Bunds are seeing support from expectations that the ECB at its meeting this Thurday will expand its 750 billion... Read more