10-Year T-Note Futures Market News and Commentary
Sep 10-year T-notes (ZNU21) on Friday closed up +9.5 ticks. The 10-year T-note yield fell -5.4 bp to 1.450%.
September 10-year T-note prices on Friday settled moderately higher. T-notes found support Friday on strength in German bunds after Italian President Draghi called for additional stimulus. Also, a slump in U.S. stock index futures on Friday boosted some safe-haven demand for T-notes. T-notes traded with modest losses briefly Friday morning on hawkish comments from St. Louis Fed President Bullard.
Comments on Friday from St. Louis Fed President Bullard were on the hawkish side and were bearish for T-notes when he said the FOMC "has been surprised by stronger-than-expected growth over the last six months with more inflation than we were expecting, and it's natural that we've tilted a little bit more hawkish here."
T-notes are seeing continued support from the ongoing global pandemic, which undercuts economic growth and is dovish for central bank policies.... Read more