10-Year T-Note futures push toward two-week highs as curve flattens.

Dan Deming analyzes the latest price action in the interest rate markets, noting that 10-Year T-Note futures are holding the top end of their recent range and pushing toward two-week highs. Despite recent selling pressure sparked by hawkish Fed minutes and restrictive messaging from Fed officials, Deming explains that strong demand from well-received 10-Year and 30-Year Treasury auctions has countered these concerns. Deming also details how this renewed demand is impacting the yield curve, as buying pressure on the long end flattens the curve and pulls the 10-Year yield down roughly 10 bps from its highest levels in over two decades.