10-Year T-Note Futures Market News and Commentary
Mar T-notes (ZNH20) on Friday closed up +13.5 ticks. The 10-year T-note yield fell -5.4 bp to 1.461%.
Mar T-note prices on Friday climbed to a 3-1/4 year nearest-futures high, and the 10-year T-note yield sank to a 5-1/2 month low of 1.436%. Concern the spread of the China coronavirus throughout the world will dampen economic activity and global growth hammering stock prices on Friday and boosted the safe-haven demand for T-notes. Also, the prospects for slower global growth may force the Fed to keep cutting interest rates.
U.S. stock indexes fell sharply Friday and boosted safe-haven demand for T-notes as the China coronavirus spreads beyond China. Confirmed cases of the virus in South Korea have topped 200 today and have neared 100 in Japan, while global cases of the virus have risen to 76,700 with 2,247 deaths.
The spread of the coronavirus in Japan knocked Japanese bond yields lower. Confirmed cases of the virus in Japan has risen to near 100, which may lead... Read more