US Treasuries
- Friday’s range for UST 10y: 4.37% – 4.51% closing at 4.505%
- UST 10y range for the week: 4.31% – 4.51%
- Friday’s range for UST 30y: 4.86% – 4.96%, closing at 4.96%
- UST 30y range for the week: 4.83% – 5.00%
Upcoming US Treasury Supply
Tentative Schedule of Treasury Buyback Operations
TIPS by Maturity (data through 5/28/25)
Week over Week Changes by Maturity
- < 2 years: $18.7 Bn on 5/21/25 to $18.8 Bn on 5/28/25 = $0.1 Bn
- 2 – 6 years: $6.4 Bn on 5/21/25 to $6.1 Bn on 5/28/25 = ($0.3 Bn)
- 6 – 11 years: $4.6 Bn on 5/21/25 to $5.4 Bn on 5/28/25 = $0.8 Bn
- > 11 years: ($538) Mn on 5/21/25 to ($335) Mn on 5/28/25 = $203 Mn
Intraday Commentary From Jim Bianco
Odds of a July cut now just 15%. Sep odds effectively 50/50
In Other News
OilPrice: Permian or Bust? U.S. Oil Growth Has a One-Basin Problem
FarmProgress -Farm Futures: Coverage ratio alert: Farm financial health slips into the red zone
SupplyChainBrain: U.S. Consumers Cut Spending as Brands Hike Prices
Bloomberg: Miami’s Drinking Water Is Threatened by a Florida Nuclear Plant
Upcoming Economic Releases & Fed Speak
- 6/07/2025 – 6/19/2025: Fed’s External Communications Blackout
- 6/09/2025 at 10:00am EST: Wholesale Trade Sales MoM / Wholesale Inventories MoM
- 6/09/2025 at 11:00am EST: NY Fed 1-Yr Inflation Expectations
- 6/10/2025 at 06:00am EST: NFIB Small Business Optimism
- 6/11/2025 at 07:00am EST: MBA Mortgage Applications
- 6/11/2025 at 08:30am EST: CPI MoM; CPI Ex Food and Energy MoM; CPI YoY
- 6/11/2025 at 08:30am EST: CPI Ex Food and Energy YoY / CPI Index NSA/ CPI Core Index SA
- 6/11/2025 at 08:30am EST: Real Avg Hourly Earnings YoY / REal Avg Weekly Earnings YoY
- 6/11/2025 at 08:30am EST: Federal Budget Balance
- 6/12/2025 at 08:30am EST: PPI Final Demand MoM / PPI Ex Food and Energy MoM
- 6/12/2025 at 08:30am EST: PPI Ex Food, Energy, Trade MoM / PPI Final Demand YoY
- 6/12/2025 at 08:30am EST: PPI Ex Food and Energy YoY / PPI Ex Food, Energy, Trade YoY
- 6/12/2025 at 08:30am EST: Initial Jobless Claims / Initial Claims 4-Wk Moving Avg / Continuing Claims
- 6/12/2025 at 12:00pm EST: Household Change in Net Worth
- 6/13/2025 at 10:00am EST: U. of Mich. Sentiment / U. of Mich. Current Conditions
- 6/13/2025 at 10:00am EST: U. of Mich. Expectations / U. of Mich. 1 Yr Inflation / U. of Mich. 5-10 Yr Inflation