Interest Rates: Futures Gap

On January 31, 2024 at 08:15 a.m. a futures gap was created between 4.028 and 4.03. This gap was filled when the 10-Yr Note rate moved up quickly on February 2, 2024, as noted in the first chart below.  A review of the weekly 10-Yr Note Non-Commercial Trader Net (Long-Short) futures trading data, shown in the 2nd chart, indicates the 10-Year Note interest rate is still expected to move lower in 2024.

Stock chart courtesy of StockCharts.com.

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