US Treasuries
- Thursday’s range for UST 10y: 4.08% – 4.16%, closing at 4.10%
- Thursday’s range for UST 30y: 4.715% – 4.77%, closing at 4.73%
- Fed’s Hammack: says Rate Cuts May Prolong Inflation, Boost Risks
- Fed’s Barr: says Fed Must Move Carefully With Inflation Still at 3%
- Fed’s Cook: Keeping Close Eye on Private Credit, Asset Valuations
- Fed’s Goolsbee: Uneasy About Front-Loading Too Many Rate Cuts
Jim Bianco in the Media
Jim Bianco: “We all have a stake in this AI boom, whether or not it works or doesn’t work”
Intraday Commentary from Jim Bianco
Bloomberg: Walmart Jumps to Nasdaq in Biggest Exchange Transfer on Record
Jim Bianco: Walmart announced this morning that it is moving its stock listing from the NYSE to the NASDAQ. Starts Dec 9 on the NASDAQ. This is the largest defection from the NYSE in history.
Walmart said they are moving to the NASDAQ as it is a “technology” company. ICE, the owner of the NYSE is down 25% since July. This has to hurt. NYSE is now “Grandpa’s” stock exchange.
Bond Vol keeps rising in recent days
Fed funds futures still signaling no cut in December. But I hear a number of people on Wall Street arguing that they will cut rates next month.
In the News
MSN: Second Fire at Ford Aluminum Supplier Threatens Production
OilPrice: China’s Soaring Coal Demand Fuels Global Price Surge
SuccessfulFarming: China Imports No U.S. Soybeans for Second Month, Brazil Arrivals Up 29%
Arbor Data Science:
Upcoming US Treasury Supply
Tentative Schedule of Treasury Buyback Operations
Upcoming Economic Releases & Fed Speak
- 11/21/2025 at 05:00am EST: Bloomberg Nov. United States Economic Survey
- 11/21/2025 at 07:30am EST: Fed’s Williams Delivers Keynote Speech
- 11/21/2025 at 08:00am EST: Fed’s Collins on CNBC
- 11/21/2025 at 08:30am EST: Real Avg Hourly Earnings YoY / Real Avg Weekly Earnings YoY
- 11/21/2025 at 08:30am EST: Fed’s Barr Gives Welcoming Remarks at the College Fed Challenge
- 11/21/2025 at 08:30am EST: Fed’s Miran Appears on Bloomberg TV
- 11/21/2025 at 08:45am EST: Fed’s Jefferson Speaks on Financial Stability
- 11/21/2025 at 09:00am EST: Fed’s Logan Speaks at Conference in Switzerland
- 11/21/2025 at 09:45am EST: S&P Global US Manufacturing PMI / Services PMI/ Composite PMI
- 11/21/2025 at 10:00am EST: U of Mich Sentiment / Current Conditions / Expectations
- 11/21/2025 at 10:00am EST: U of Mich 1 Yr Inflation / 5 – 10 Yr Inflation
- 11/24/2025 at 08:30am EST: Chicago Fed Nat Activity Index
- 11/24/2025 at 10:30am EST: Dallas Fed Manf. Activity
- 11/24/2025 at 10:30am EST: Fed Releases Annual Revision to Industrial Production
- 11/25/2025at 08:30am EST: Retail Sales Advance MoM / Ex Auto Mom / Ex Auto and Gas
- 11/25/2025at 08:30am EST: Retail Sales Control Group
- 11/25/2025 at 08:30am EST: Philadelphia Fed Non-Manufacturing Activity
- 11/25/2025 at 08:30am EST: PPI Final Demand MoM / POPI Ex Food and Energy MoM
- 11/25/2025 at 08:30am EST: PPI Ex Food, Energy, Trade MoM, PPI Final Demand YoY
- 11/25/2025 at 08:30am EST: PPI Ex Food and Energy YoY, PPI Ex Food, Energy, Trade YoY
- 11/25/2025 at 09:00am EST: FHFA House Price Index MoM
- 11/25/2025 at 09:00am EST: House Price Purchase Index QoQ
- 11/25/2025 at 09:00am EST: S&P Cotality CS 20-City MoM SA / YoY NSA / US HPI YoY HSA
- 11/25/2025 at 10:00am EST: Richmond Fed Manufact. Index / Business Conditions
- 11/25/2025 at 10:00am EST: Conf. Board Consumer Confidence / Present Situation / Expectations
- 11/25/2025 at 10:00am EST: Pending Home Sales MoM / NSA YoY
- 11/25/2025 at 10:30am EST: Dallas Fed Services Activity
- 11/26/2025 at 07:00am EST: MBA Mortgage Applications
- 11/26/2025 at 08:30am EST: Initial Jobless Claims / Initial Claims 4-Wk Moving Avg / Continuing Claims
- 11/26/2025 at 08:30am EST: GDP Annualized QoQ
- 11/26/2025 at 08:30am EST: Personal Consumption
- 11/26/2025 at 08:30am EST: GDP Price Index / Core PCE Price Index QoQ
- 11/26/2025 at 09:45am EST: MNI Chicago PMI
- 11/26/2025 at 10:00am EST: Personal Income / Personal Spending / Real Personal Spending
- 11/26/2025 at 10:00am EST: PCE Price Index MoM / YoY
- 11/26/2025 at 10:00am EST: Core PCE Price Index MoM / YoY
- 11/26/2025 at 02:00pm EST: Fed Releases Beige Book
Upcoming Earnings Releases for Friday, November 21, 2025
Before the Open
