US Treasuries
- UST 10s closed on Friday (1/16/26) at 4.225%. The range for the week was 4.13% – 4.23%.
- Our 1st weekly support zone of 4.20% – 4.22% held.
- Fed’s Bowman: wants fed ready to cut rates for still-fragile job market
Intraday Commentary From Bianco Research
10-year yield now rounds to 4.22%, highest level since September 4th.
U.S. Treasury and Agency Fails
As of 1/15/2026, U.S. Treasury Fails were $21.91 billion and U.S. Agency Fails were $64.03 million.
TIPS by Maturity (data through 1/07/2026)
Week over Week Changes by Maturity
- < 2 years: $18.8 Bn on 12/31/2025 to $19.1 Bn on 1/07/2026 = $0.3 Bn
- 2 – 6 years: $3.7 Bn on 12/31/2025 to $3.5 Bn on 1/07/2026 = ($0.2 Bn)
- 6 – 11 years: $3.0 Bn on 12/31/2025 to $3.2 Bn on 1/07/2026= $0.2 Bn
- > 11 years: $816 Mn on 12/31/2025 to $960 Mn on 1/07/2026 = $144 Mn
In the News
Insurancebusinessmag: Homeowners turn to DIY repairs, Hippo reports
OilPrice: Low Oil Prices Force Billionaire Harold Hamm to Halt Bakken Drilling
Time: Should Data Center Companies Take a Lesson From the Fracking Boom?
Zerohedge: LIS Technologies Launches $1.4 Billion Laser Uranium Enrichment Project in Tennessee
Upcoming US Treasury Supply
Tentative Schedule of Treasury Buyback Operations
Upcoming Economic Releases & Fed Speak
- 1/17/2026 – 1/29/2026: Fed’s External Communications Blackout
- 1/20/2026 at 08:15am EST: ADP Employment Change
- 1/20/2026 at 08:30am EST: Philadelphia Fed Non-Manufacturing Activity
- 1/21/2026 at 07:00am EST: MBA Mortgage Applications
- 1/21/2026 at 10:00am EST: Census Releases Sept – Oct Construction Spending on Jan 21
- 1/21/2026 at 10:00am EST: Construction Spending MoM / Pending Home Sales MoM / YoY
- 1/22/2026 at 08:30am EST: BEA to Release Oct-Nov Personal Income on Jan 22
- 1/22/2026 at 08:30am EST: GDP Annualized QoQ / Personal Consumption / GDP Price Index
- 1/22/2026 at 08:30am EST: Core PCE Price Index QoQ / Initial Jobless Claims
- 1/22/2026 at 08:30am EST: Initial Claims 4-Wk Moving Avg / Continuing Claims
- 1/22/2026 at 08:30am EST: Personal Income / Personal Spending / Real Personal Spending
- 1/22/2026 at 08:30am EST: PCE Price index MoM and YoY / Core PCE Price Index MoM and YoY
- 1/22/2026 at 11:00am EST: Kansas City Fed Manf. Activity
- 1/23/2026 at 06:00am EST: Bloomberg Jan. United States Economic Survey
- 1/23/2026 at 09:45am EST: S&P Global U.S. Manufacturing PMI / S&P Global U.S. Services PMI
- 1/23/2026 at 09:45am EST: S&P Global U.S. Composite PMI
- 1/23/2026 at 10:00am EST: Leading Index
- 1/23/2026 at 10:00am EST: Conference Board releases Oct. and Nov. Leading Index Data
- 1/23/2026 at 10:00am EST: U of Mich. Sentiment / U. of Mich. Current Conditions / U. of Mich. Expectations
- 1/23/2026 at 10:00am EST: U of Mich. 1 Yr Inflation / U of Mich. 5-10 Yr Inflation
- 1/23/2026 at 11:00am EST: Kansas City Fed Services Activity