10-Year T-Note Futures Market News and Commentary
Sep T-notes (ZNU20) on Friday closed up +13 ticks. The 10-year T-note yield fell -4.2 bp at 0.648%.
10-year T-notes on Friday moved higher on mostly weaker-than-expected U.S. economic data. T-notes extended their gains Friday afternoon after President Trump said the U.S. would withdraw from the World Health Organization (WHO) and withdraw Hong Kong's special trade status.
T-notes on Friday found support on mostly weaker-than-expected U.S. economic data. U.S. Apr personal spending fell by a record -13.6% m/m (data from 1959), weaker than expectations of -12.8% m/m. Also, the May Chicago PMI unexpectedly fell -2.1 to an 11-year low of 32.3, weaker than expectations of +4.6 to 40.0. In addition, the final-May University of Michigan U.S. consumer sentiment index unexpectedly fell -1.4 to 72.3, weaker than expectations of +0.3 to 74.0. On the negative side, the U.S. Apr personal income unexpectedly rose by a record +10.5% m/m (data from 1946), stronger than expectations of... Read more