10-Year T-Note futures fell as 30-year yields hit 19-year highs.

The 10-Year T-Note futures traded lower for a third consecutive session, hitting a new closing low for the June contract as selling pressure pushed prices into the 108 handle. Persistent inflation, driven by elevated crude oil prices above $100 a barrel and ongoing shipping delays tied to Middle East conflicts, continues to weigh on the market. Additionally, a leadership change at the Federal Reserve has shifted market expectations from potential rate cuts to a more hawkish stance, with discussions now centering on potential rate hikes later this year. These factors have driven yields significantly higher across the curve. The 10-Year yield rose to a one-and-a-half-year high, while the 30-Year yield reached 518 bps, marking its highest closing level since June 2007.