10-Year T-Note futures recover as energy prices decline.

10-Year T-Note futures are seeing a recovery today following significant selling pressure in the prior session. Dan Deming of KKM Financial breaks down the price action as the market tests the 111'000 handle. The rally in Treasury prices is being supported by a decline in the energy sector, specifically lower WTI Crude Oil futures, which is shifting market sentiment and providing a lift to the bond market. On the yield side, the 10-Year yield dropped 7 bps to 4.32%, with the broader yield curve seeing downward pressure ranging from 3 to 8 bps across various maturities. While the current move shows consistent buying pressure, yields remain near the upper end of their multi-month range, having recently come off highs not seen since the summer of 2025.