US Treasuries
- UST 10s on Friday closed at 4.14%. The range for the week was 3.92% – 4.185%.
- 1st weekly support at 4.23% / 4.25%
- 2nd weekly support at 4.38% / 4.395% 50% to hold on the week
- –> 1st monthly support at 4.065% / 4.09% [this has held for 2 months]
- –> 2nd monthly support at 4.14% / 4.16% 59% to hold on the week
- 1st weekly resist at 4.04% / 4.07% 90% to hold on the week
- 2nd weekly resist at 3.96% / 3.98%
- –> 1st monthly resist at 3.83% / 3.855%
Today’s Fed Speakers:
- Fed’s Waller: Says He Doesn’t See Sustained Inflation from Iran War
- Fed’s Daly: Says Labor Market Weakness Shows Dual Risks Persist
- Fed’s Miran: Says Labor demand isn’t strong enough because monetary policy is too tight
- Fed’s Hammack: Says She Sees To-Sided Risks to Interest Risks
Conference Call Replay
10-year up 22 bps since last Friday (bottom panel) BEFORE payrolls.
TIPS by Maturity (data through 2/25/2026)
Week over Week Changes by Maturity
- < 2 years: $23.4 Bn on 2/18/2026 to $23.9 Bn on 2/25/2026 = $0.5 Bn
- 2 – 6 years: $3.0 Bn on 2/18/2026 to $3.2 Bn on 2/25/2026 = $0.2 Bn
- 6 – 11 years: $1.4 Bn on 2/18/2026 to $1.9 Bn on 2/25/2026= $0.5 Bn
- > 11 years: $1.4 Bn on 2/18/2026 to $1.5 Bn on 2/25/2026 = $0.1 Bn
US Treasury Trade Fails
In the News
OilPrice: Why Trump Wants Magnets More Than Gold
SupplyChainBrain: Starbucks to Move Supply Chain Operations Roles to Tennessee
FarmPolicyNews: Senate Dems Seek to Break Up Meatpacking Industry
Arbor Data Science: Where’s the Beef? Part Two
Upcoming US Treasury Supply
Tentative Schedule of Treasury Buyback Operations
Upcoming Economic Releases & Fed Speak







