RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

As we look at the June 10-year note we have a high of 139-17 and a low of 128-31 and are currently trading at 139-11. The notes are under some pressure today due to stock near their high, with Dow futures up 440 and the S&P up 55.  We are also seeing crude oil climb nearly $3 in the June contract.  Positive vibes from stocks and energies are taking a bite out of prices in the note complex. Going forward, I think we may be seeing a top in notes due to all the stimulus provided by the central banks to aid failing economies. The consequences of this stimulus is that inflation will come much sooner than anticipated making treasuries less desirable. Going forward, traders should be keyed on even more stimulus, a lower dollar and lower prices for T-notes.  

10-Year Note Jun ’20 Daily Chart
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Greg Perlin

Senior Market Strategist
Greg is a former Chicago Board of Trade member. He was an independent floor trader, pit broker and floor broker with Cantor Fitzgerald. Some of his clients included traders from Morgan Stanley and Lehman Brothers. He also acted in the capacity of desk manager for the morning trade desk. Greg was part of the elite Lind Plus Division for 10 years before joining RJO Futures in 2011.
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