Your browser of choice has not been tested for use with If you have issues, please download one of the browsers listed here.
Stocks | Futures | Watchlist | More

30-Day Fed Funds Jul '19 (ZQN19)

Get Real-Time Futures
[[ item.lastPrice ]] [[ item.priceChange ]] ([[ item.percentChange ]]) [[ item.tradeTime ]] [CBOT]
[[ item.bidPrice ]] x [[ item.bidSize ]] [[ item.askPrice ]] x [[ item.askSize ]]
Futures Prices for [[ item.sessionDateDisplayLong ]]
[[ timeframe ]] futures price quotes as of Mon, Jun 24th, 2019.
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.
Looking for expired contracts? Check out our 30-Day Fed Funds Historical Futures page.

30-Day Fed Funds Futures Market News and Commentary

10-Year T-Notes Close Lower on Reduced Safe-Haven and Weakness in Bunds

Sep 10-year T-notes on Friday closed down -17.5 ticks and the 10-year T-note yield rose +3.6 bp at 2.064%. T-note prices moved lower Friday on the heels of losses in German bunds and on reduced safe-haven demand. The 10-year German bund yield rose to a 3-session high of -0.275% Friday after the Eurozone Jun Markit composite PMI rose +0.3 to a 7-month high of 52.1, stronger than expectations of +0.2 to 52.0, which was hawkish for ECB policy and negative for bund prices. T-notes were also undercut by reduced safe-haven demand after President Trump late Thursday decided against launching a retaliatory strike on Iran in response to Thursday's downing of a U.S. drone by Iran. A supportive factor for T-note prices Friday was a dovish comment from Fed Vice Chair Clarida who said, "the case for providing more accommodation has increased" and we'll act appropriately to sustain the expansion. Also, weak U.S. manufacturing data Friday was bullish for T-note prices after the U.S. Jun Markit manufacturing index fell -0.4 to a 9-3/4 year low of 50.1, weaker than expectations of unchanged at 50.5. The market is discounting the odds at 100% for a 25 bp rate cut at the next FOMC meeting on July 30-31. Inflation expectations weakened Friday as the 10-year T-note breakeven inflation expectations rate fell -1.1 bp to 1.735%, which is well above Monday's 2-3/4 year low of 1.612%. Big Picture T-Note Market Factors: Bullish factors for T-note prices include (1) market expectations of a 100% chance of a 25 bp rate cut at the July FOMC meeting after the FOMC downgraded its assessment of economic activity to "moderate" from May's "solid" and removed its reference to being "patient" on interest rates, (2) the FOMC's cut in its 2019 core PCE estimate to 1.8% from March's 2.0% and cut in its 2020 median Fed funds rate forecast by -50 bp to 2.1% from 2.6% projected in March, (3) reduced inflation expectations after the 10-year T-note breakeven inflation rate fell to a 2-3/4 year low of 1.61%, (4) weaker U.S. and global economic growth due to trade tensions, and (5) safe-haven demand due to trade tensions, Brexit risks, and geopolitical risks from Iran, North Korea, and Venezuela. Bearish factors include (1) the Fed's balance sheet draw-down program that will last through September, (2) record high stock prices, and (3) some continued simulative effects from the massive 2018 U.S. tax cut.
  • Stock Index Futures Near Record Highs

    U.S. stock index futures are lower today after the S&P 500 spot index hit a record on Thursday.

  • The Market Rally Continues...

    Yesterday the market rally continued as everyone thinks the Fed is taking a dovish stance. Will this continue today? Read on to learn more...

  • Elliott Wave View: Nike Resumes Rally Higher

    Nike has resumed the rally higher. As far as dips stay above June 18, it can extend higher. This article & video looks at the short term Elliott Wave path....

Want to use this as
your default charts setting?
Learn about our Custom Templates
Switch the Market flag
above for targeted data.
Open the menu and switch the
Market flag for targeted data.
Get Streaming Chart Updates
Switch your Site Preferences
to Interactive Chart
Read About Upcoming
Changes to This Feature
Need More Chart Options?
Right-click on the chart to open the Interactive Chart menu.

Free Barchart Webinar