2-Year T-Note Dec '19 (ZTZ19)
2-Year T-Note Futures Market News and Commentary
Sep 10-year T-notes (ZNU20) on Tuesday closed up +12.5 ticks and the 10-year T-note yield fell -4.4 bp to 0.510%.
Sep 10-year T-note prices on Tuesday rallied to a new 4-3/4 month nearest-futures high, and the 10-year T-note yield tumbled to a new 4-3/4 month low of 0.504%. A rally in German bunds on Tuesday underpinned T-note prices as did dovish Fed comments.
T-notes rallied Tuesday on concern the U.S. recovery will stagnate as U.S. lawmakers take to reach a compromise on a new pandemic rescue bill. U.S./China tensions also undercut stocks and gave T-notes a boost. An editorial in the state-run China Daily published late Monday said U.S. demands for the sale of China's social media app TikTok to Microsoft is "theft," and China has plenty of ways to respond if the U.S. carries out its demands. President Trump, on Monday, said unless TikTok is sold to a U.S. company by September 15, it will be shut down.
Tuesday's U.S. economic data was negative for T-notes afte... Read more
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