10-Year T-Note Futures Market News and Commentary
Mar T-notes (ZNH20) on Thursday closed up +3.5 ticks. The 10-year T-note yield fell -4.8 bp at 1.289%.
Mar T-note prices on Thursday rallied to a new 3-1/2 year nearest-futures high, and the 10-year T-note yield dropped to a new record low of 1.241%, on concern the China coronavirus may soon spread through the U.S.
U.S. stock indexes plunged Thursday, which fueled safe-haven demand for T-notes, after U.S. health authorities late Wednesday said they had found the first case of the coronavirus in the U.S. that does not have ties to a known outbreak. That raised concerns about community spread, where the virus begins circulating freely among people outside of quarantines or known contact with other patients. Confirmed cases of the coronavirus have now risen to 82,400 in more than 40 countries, with more than 2,800 deaths.
T-notes on Thursday also found support on a plunge in global bond yields. The 10-year German bund yield dropped Thursday to -0.566%, and the 1-ye... Read more