US Treasuries
- UST 10s on Friday closed at 4.24%. The range for the week was 4.225% – 4.305%.
- Our 1st weekly support zone of 4.255% – 4.26% held.
- On Deck: $69 billion UST 2y Note Auction, Monday (1/26/26)
Bloomberg: After Davos, Bond Markets Are Wielding a New Big Stick
U.S. Treasury and Agency Fails
As of 1/22/2026, U.S. Treasury Fails were $20.06 billion and U.S. Agency Fails were $27.50 million.
TIPS by Maturity (data through 1/14/2026)
Week over Week Changes by Maturity
- < 2 years: $19.1 Bn on 1/07/2026 to $22.0 Bn on 1/14/2026 = $2.9 Bn
- 2 – 6 years: $3.5 Bn on 1/07/2026 to $2.5 Bn on 1/14/2026 = ($1.0 Bn)
- 6 – 11 years: $3.2 Bn on 1/07/2026 to $3.1 Bn on 1/14/2026= ($0.1 Bn)
- > 11 years: $960 Mn on 1/07/2026 to $817 Mn on 1/14/2026 = ($143 Mn)
In the News
OilPrice: Europe’s Gas Storage Is Draining at the Fastest Pace in Five Years
ZeroHedge: Up To 25% Of US Colleges May Close Soon, Brandeis President Warns
Bloomberg: Wall Street Pushes Solo 401(k) as More Americans Work for Themselves
FoxNews: Amazon to cut thousands of jobs in sweeping corporate layoffs
Upcoming US Treasury Supply
Upcoming Economic Releases & Fed Speak
- 1/17/2026 – 1/29/2026: Fed’s External Communications Blackout
- 1/26/2026 at 08:30am EST: Chicago Fed to Release TBD Period National Activity Index
- 1/26/2026 at 08:30am EST: Durable Goods Orders / Durables Ex Transportation
- 1/26/2026 at 08:30am EST: Cap Goods Orders Nondef Ex Air / Cap Goods Ship Nondef Ex Air
- 1/26/2026 at 08:30am EST: Dallas Fed Manf. Activity
- 1/27/2026 at 08:15am EST: ADP Weekly Employment Change
- 1/27/2026 at 09:00am EST: FHFA House Price Index MoM
- 1/27/2026 at 09:00am EST: S&P Cotality CS 20-City MoM SA / YoY NSA / US HPI YoY NSA
- 1/27/2026 at 10:00am EST: Richmond Fed Manufact. Index / Business Conditions
- 1/27/2026 at 10:00am EST: Conf. Board Consumer Confidence / Present Situation / Expectations
- 1/27/2026 at 10:30am EST: Dallas Fed Services Activity
- 1/28/2026 at 07:00am EST: MBA Mortgage Applications
- 1/28/2026 at 02:00pm EST: FOMC Rate Decision
- 1/28/2026 at 02:00pm EST: Fed Interest on Reserve Balances Rate
- 1/28/2026 at 02:00pm EST: Fed Reverse Repo Rate
- 1/29/2026 at 08:30am EST: Nonfarm Productivity and Unit Labor Costs
- 1/29/2026 at 08:30am EST: Initial Jobless Claims / Initial Claims 4-Wk Moving Avg / Continuing Claims
- 1/29/2026 at 08:30am EST: Trade Balance / Exports MoM / Imports MoM
- 1/29/2026 at 10:00am EST: Factory Orders / Factory Orders Ex Trans
- 1/29/2026 at 10:00am EST: Durable Goods Orders / Durable Goods Ex Transportation
- 1/29/2026 at 10:00am EST: Cap Goods Orders Nondef Ex Air / Cap Goods Ship Nondef Ex Air
- 1/29/2026 at 10:00am EST: Wholesale Inventories MoM / Wholesale Trade Sales MoM
- 1/30/2026 at 08:30am EST: PPI Final Demand MoM / PPI Ex Food and Energy MoM
- 1/30/2026 at 08:30am EST: PPI Ex Food, Energy, Trade MoM / PPI Final Demand YoY
- 1/30/2026 at 08:30am EST: PPI Ex Food and Energy YoY / PPI Ex Food, Energy, Trade YoY
- 1/30/2026 at 09:45am EST: MNI Chicago PMI
- 1/30/2026 at 01:30pm EST: Fed’s Musalem Speaks on Economy and Policy
Upcoming Earnings Releases for Monday, January 26, 2026
Noteworthy Before-the-Open Earnings Releases
Noteworthy After-the-Close Earnings Releases
