2-Year T-Note Futures Market News and Commentary
Dec T-notes (ZNZ19) this morning are unchanged. The 10-year T-note yield is down by -1.2 bp to 1.803%.
Dec T-note prices are little changed this morning on mixed U.S. housing data and on strength in stocks that is curbing safe-haven demand for T-notes.
Today's U.S. housing data was mixed for T-note prices after Oct housing starts rose +3.8% to 1.314 million, weaker than expectations of +5.1% to 1.320 million. However, Oct building permits, a proxy for future construction, unexpectedly rose +5.0% to a 12-1/4 year high of 1.461 million, stronger than expectations of -0.4% to 1.385 million.
Major U.S. stock indexes all posted new record highs today on optimism that progress is being made in U.S./China trade negotiations.
Comments today from New York Fed President Williams (voter) weighed on T-note prices when he said the Fed's three rate cuts this year have shifted monetary policy into a "good place" to sustain economic growth.
A rally in Japanese bon... Read more