US Treasuries
- UST 10s closed at 4.15% today. The range for the week was 4.10% – 4.195%.
- Our 1st weekly resistance zone of 4.12% – 4.14% held.
- On Deck: UST 2yr Note Auction on Monday, 12/22/2025
CNBC: NY Fed President Williams says some ‘technical factors’ distorted November’s CPI reading downward
In the News
OilPrice.com: Shipping Giant Maersk Completes First Red Sea Transit in Two Years
Fast Company: Colorado River states deadlocked on water deal as deadline gets pushed back
Los Angeles Times: They graduated from Stanford. Due to AI, they can’t find a job
Visual Capitalist:
TIPS by Maturity (data through 12/10/2025)
Week over Week Changes by Maturity
- < 2 years: $23.1 Bn on 12/03/2025 to $23.6 Bn on 12/10/2025 = $0.5 Bn
- 2 – 6 years: $2.7 Bn on 12/03/2025 to $3.1 Bn on 12/10/2025 = $0.4 Bn
- 6 – 11 years: $3.6 Bn on 12/03/2025 to $3.7 Bn on 12/10/2025 = $0.1 Bn
- > 11 years: $413 Mn on 12/03/2025 to $795 Mn on 12/10/2025 = $392 Mn
Upcoming US Treasury Supply
Tentative Schedule of Treasury Buyback Operations
Upcoming Economic Releases & Fed Speak
- 12/22/2025 at 06:00am EST: Fed’s Hammack Appears on WSJ Podcast
- 12/22/2025 at 08:30am EST: Chicago Fed Nat Activity Index
- 12/23/2025 at 08:15am EST: ADP Weekly Employment Preliminary Estimate
- 12/23/2025 at 08:30am EST: GDP Annualized QoQ / Personal Consumption / GDP Price Index
- 12/23/2025 at 08:30am EST: Core PCE Price Index QoQ / Philadelphia Fed Non-Manufacturing Activity
- 12/23/2025 at 08:30am EST: Durable Goods Orders / Durables Ex Transportation
- 12/23/2025 at 08:30am EST: Cap Goods Orders Nondef Ex Air
- 12/23/2025 at 09:15am EST: Fed to Release Oct. and Nov. Industrial Production on Dec. 23
- 12/23/2025 at 09:15am EST: Industrial Production MoM and Manufacturing (SIC) Production
- 12/23/2025 at 09:15am EST: Capacity Utilization
- 12/23/2025 at 10:00am EST: Richmond Fed Manufact. Index / Richmond Fed Business Conditions
- 12/23/2025 at 10:00am EST: Conf. Board Consumer Confidence / Present Situation / Expectations
- 12/24/2025 at 07:00am EST: MBA Mortgage Applications
- 12/24/2025 at 08:30am EST: Initial Jobless Claims / 4-Wk Moving Avg / Continuing Claims