US Treasuries
- Friday’s UST 10y range: 4.60% – 4.66%, closing at 4.62%
Bloomberg: Treasury’s Cash Pile Is a ‘Wild Card’ With New Administration
A change in the US Treasury’s leadership is likely to shift how the department treats the cash it parks at the Federal Reserve, with strategists warning of implications that stand to ripple across the nation’s debt market.
Join us for our Next Conference Call: Tuesday, 1/28/25, featuring Jim Bianco
Upcoming US Treasury Supply
Tentative Schedule of Treasury Buyback Operations
TIPS: Primary Dealer Positions by Maturity
In Other News…
According to a January 22 report from Coresight Research that tracks the openings and closings of U.S. retail stores in 2024 and 2025, this year could see as many as 15,000 U.S. retail locations close.
Arbor Data Science:
Axios: America’s data center job hot spots
Arkansas (+241.9%), South Dakota (+179.4%) and Georgia (131.5%) had the biggest increases in data center employment between the first quarters of 2018 and 2024, per the U.S. Census Bureau’s Quarterly Workforce Indicators.
NPR: The U.S. just experienced its slowest annual sales of homes since 1995
Existing-home sales last year totaled 4.06 million, the lowest on an annual basis since 1995, according to the National Association of Realtors on Friday.
Transport Topics: Port of L.A. Tallies Second-Busiest Year on Record in 2024
The busiest U.S. seaport finished 2024 with near-record trade volumes as tariff uncertainty and supply chain diversions brought a sustained wave of imports through Southern California.
Upcoming Economic Releases & Fed Speak
- 1/24/2025 at 09:00am EST: Bloomberg Jan. United States Economic Survey
- 1/24/2025 at 09:45am EST: S&P Global US Manufacturing PMI/US Services PMI/US Composite PMI
- 1/24/2025 at 10:00am EST: U. of Mich. Sentiment & U. of Mich. Current Conditions & U. of Mich. Expectations
- 1/24/2025 at 10:00am EST: U. of Mich. 1 Yr Inflation & U. of Mich. 5-10 Yr Inflation
- 1/24/2025 at 10:00am EST: Existing Home Sales & Existing Home Sales MoM
- 1/24/2025 at 11:00am EST: Kansas City Fed Services Activity
- 1/27/2025 at 08:30am EST: Chicago Fed Nat Activity Index
- 1/27/2025 at 10:00am EST: New Home Sales & New Home Sales MoM
- 1/27/2025 at 10:30am EST: Dallas Fed Manf. Activity
- 1/27/2025: Building Permits & Building Permits MoM
- 1/28/2025 at 08:30am EST: Durable Goods Orders & Durable Ex Transportation
- 1/28/2025 at 08:30am EST: Cap Goods Orders Nondef Ex Air & Cap Goods Ship Nondef Ex Air
- 1/28/2025 at 09:00am EST: FHFA House Price Index MoM
- 1/28/2025 at 09:00am EST: S&P CoreLogic CS 20-City MoM and YoY
- 1/28/2025 at 09:00am EST: S&P CoreLogic CS US HPI YoY
- 1/28/2025 at 09:30am EST: Dallas Fed Services Activity
- 1/28/2025 at 09:30am EST: Conf. Board Consumer Confidence/Present Situation/Expectation
- 1/28/2025 at 10:00am EST: Richmond Fed Manufact. Index/Business Conditions
- 1/29/2025 at 07:00am EST: MBA Mortgage Applications
- 1/29/2025 at 08:30am EST: Advance Goods Trade Balance
- 1/29/2025 at 08:30am EST: Wholesale Inventories MoM
- 1/29/2025 at 08:30am EST: Retail Inventories MoM
- 1/29/2025 at 02:00pm EST: FOMC Rate Decision
- 1/29/2025 at 02:00pm EST: Fed Interest on Reserve Balances Rate
- 1/30/2025 at 08:30am EST: GDP Annualized QoQ
- 1/30/2025 at 08:30am EST: Personal Consumption
- 1/30/2025 at 08:30am EST: Core PCE Price Index QoQ
- 1/30/2025 at 08:30am EST: Initial Jobless Claims
- 1/30/2025 at 08:30am EST: Continuing Claims
- 1/30/2025 at 10:00am EST: Pending Home Sales MoM and YoY
- 1/31/2025 at 08:30am EST: Bowman Speaks on Economy, Banks
- 1/31/2025 at 08:30am EST: Employment Cost Index & Personal Income
- 1/31/2025 at 08:30am EST: Personal Spending & Real Personal Spending
- 1/31/2025 at 08:30am EST: PCE Price Index MoM & PCE Price Index YoY
- 1/31/2025 at 08:30am EST: Core PCE Price Index MoM & Core PCE Price Index YoY
- 1/31/2025 at 09:45am EST: MNI Chicago PMI