10-Year T-Note futures reached highest levels since November.

10-Year T-Note futures moved higher during today's session, recovering from recent selling pressure to reach their highest levels since late November. The June contract, now the most active, traded near 113'120 as positions rolled forward. Market sentiment was influenced by recent Federal Reserve commentary and mixed economic data, while a well-received 44 billion 7-Year note auction signaled strong demand. In the cash market, the 10-Year yield declined 3.5 bps to 401.5 bps, pushing toward the lower end of its multi-month range. Additionally, the yield curve flattened as buying pressure increased on the back end. Notably, average 30-year mortgage yields fell below 6% for the first time in three and a half years, further impacting overall market sentiment.