US Treasuries
- Treasuries rallied on strong jobs data
- 10s closed on Friday at 4.36 [Friday’s range in 10s: 4.34/4.39]
- 2s closed on Friday at 3.87 [Friday’s range in 2s: 3.87/3.925]
- 2y – 5y: + 12 bps
- 2y – 10y: + 47 bps
Intraday News Moving Markets
- April Nonfarm Payrolls beat expectations with 115,000 jobs added (65,000 expected)
- On Deck next week: CPI (Tuesday, 5/12)
- On Deck next week: Treasury auctions: $58bn UST 3y (Mon, 5/11);$42 bn UST 10y (Tues, 5/12) and $25 bn UST 30y (Wed, 5/13)
- Fed Speak: Fed’s Goolsbee Says All Interest-Rate Options Are On the Table
- Bloomberg: Hassett, Asked on Gundlach Debt Idea, Says Not in Million Years
Treasury Buyback Schedule
Commodities
- Gold rose to $4,723 an ounce [87% of its recent high of $5,417 an ounce on 1/28/26]
- Silver rose to $80.52 an ounce [69% of its recent high of $116.70 an an ounce on 1/28/26]
Week over Week Changes by Maturity
- < 2 years: $23.8 Bn on 4/22/2026 to $24.4 Bn on 4/29/2026 = $0.6 Bn
- 2 – 6 years: $4.6 Bn on 4/22/26 to $4.8 Bn on 4/29/2026 = $0.2 Bn
- 6 – 11 years: $1.7 Bn on 4/22/2026 to $1.7 Bn on 4/29/2026 = $0.0 Bn
- > 11 years: $893 Mn on 4/22/2026 to $1,550 Mn on 4/29/2026 = $657 Mn
U.S. Treasury Trade Fails
As of 5/7/2026, U.S. Treasury Fails were $22.78 billion and U.S. Agency Fails were $4.96 million.
Intraday Commentary From Jim Bianco
The red bars from 2020 to 2022 (again, inflation more than wages) really damaged the public psyche (and particularly the bottom of the K). Is another series of red bars coming, and what will that do to the public’s psyche this time?
In the News
Upcoming Economic Releases & Fed Speak
- 5/11/2026 at 10:00am EST: Existing Homes Sales / MoM
- 5/12/2026 at 06:00am EST: NFIB Small Business Optimism
- 5/12/2026 at 08:15am EST: ADP Weekly Employment Change
- 5/12/2026 at 08:30am EST: CPI MoM and YoY / Core CPI MoM and YoY / CPI Index NSA and Core CPI Index SA
- 5/12/2026 at 08:30am EST: Real Avg Hourly Earnings YoY and Real Avg Weekly Earnings YoY
- 5/12/2026 at 11:00am EST: NY Fed Quarterly Report on Household Debt and Credit
- 5/12/2026 at 01:00pm EST: Fed’s Goolsbee Speaks at Greater Rockford Chamber of Commerce
- 5/12/2026 at 02:00pm EST: Federal Budget Balance
- 5/13/2026 at 07:00am EST: MBA Mortgage Applications
- 5/13/2026 at 07:00am EST: PPI Final Demand MoM and YoY
- 5/13/2026 at 07:00am EST: PPI Ex Food and Energy MoM and YoY
- 5/13/2026 at 07:00am EST: PPI Ex Food, Energy, Trade MoM and YoY
- 5/13/2026 at 11:30am EST: Fed’s Collins Speaks on US Economy
- 5/13/2026 at 01:15pm EST: Fed’s Kashkari in Moderated Discussion
- 5/14/2026 at 08:30am EST: Import Price Index MoM and YoY / Import Price Index ex Petroleum
- 5/14/2026 at 08:30am EST: Export Price Index MoM and YoY
- 5/14/2026 at 08:30am EST: Initial Jobless Claims / Initial Claims 4-Wk Moving Avg / Continuing Claims
- 5/14/2026 at 08:30am EST: Retail Sales Advance MoM / Retail Sales Ex Auto MoM
- 5/14/2026 at 08:30am EST: Retail Sales Ex Auto and Gas / Retail Sales Control Group
- 5/14/2026 at 10:00am EST: Business Inventories
- 5/14/2026 at 01:00pm EST: Fed’s Hammack Gives Opening Remarks
- 5/14/2026 at 05:30pm EST: Fed’s Barr Speaks at Money Marketeers
- 5/15/2026 at 09:15am EST: Industrial Production MoM / Manufacturing (SIC) Production / Capacity Utilization
Upcoming Earnings Releases for Monday, May 11, 2026
Noteworthy Before-the-Open Earnings Releases
|
Company |
Symbol |
Earnings estimate |
|
Barrick Mining |
B |
$0.81 per share |
|
Certara |
CERT |
0.11 |
|
Ceva |
CEVA |
0.02 |
|
Circle Internet Group |
CRCL |
0.19 |
|
Constellation Energy |
CEG |
2.54 |
|
Dole plc |
DOLE |
0.34 |
|
eXp World Holdings |
EXPI |
-0.05 |
|
Fox Corporation |
FOXA |
0.98 |
|
FS KKR Capital |
FSK |
0.44 |
|
Liquidia Technologies |
LQDA |
0.37 |
|
Monday.com |
MNDY |
0.93 |
|
Mosaic |
MOS |
0.24 |
|
National Energy Services Reunited |
NESR |
0.21 |
|
Sally Beauty |
SBH |
0.41 |
|
Seadrill Ltd |
SDRL |
-0.28 |
|
United Parks & Resorts Inc. |
PRKS |
-0.35 |
|
Uniti Group |
UNIT |
-0.20 |
Noteworthy After-the-Close Earnings Releases
|
Company |
Symbol |
Earnings estimate |
|
Aecom Tech |
ACM |
$1.55 per share |
|
Amentum Holdings |
AMTM |
0.57 |
|
AST SpaceMobile |
ASTS |
-0.24 |
|
Cadre Holdings |
CDRE |
0.07 |
|
CleanSpark |
CLSK |
-0.56 |
|
Figure Technology Solutions |
FIGR |
0.19 |
|
Halozyme Therapeutics |
HALO |
1.54 |
|
Harmonic |
HLIT |
0.12 |
|
Helios Technologies |
HLIO |
0.69 |
|
Hims & Hers Health |
HIMS |
0.03 |
|
Kodiak Gas Services |
KGS |
0.53 |
|
MARA Holdings Inc. |
MARA |
-1.51 |
|
Novanta |
NOVT |
0.78 |
|
Ovintiv |
OVV |
1.82 |
|
Plug Power |
PLUG |
-0.10 |
|
Ramaco Resources |
METC |
-0.21 |
|
Rigetti Computing |
RGTI |
-0.04 |
|
Simon Properties |
SPG |
3.01 |
|
Steris |
STE |
2.85 |
|
WEBTOON Entertainment |
WBTN |
-0.10 |
|
ZoomInfo |
GTM |
0.26 |