US Treasuries
Ten year notes rallied to 4.52% off of the lower than expected CPI print. For the rest of the day, 10s traded in a relatively quiet 3 basis point range.
Bloomberg: Warsh Says CPI Decline Doesn’t Mean ‘Mission Accomplished’ at Fed
- 10s closed on Tuesday at 4.575 [Tuesday’s range in 10s: 4.52/4.63]
- 2s closed on Tuesday at 4.185 [Tuesday’s range in 2s: 4.14/4.295]
- 2y – 5y: + 12 bps
- 2y – 10y: + 39 bps
Intraday Commentary From Jim Bianco
What are Sept odds of a hike now?
Join Us For Our Next Conference Call Tomorrow, Wednesday, July 15th at 9:00am CT, Featuring Jim Bianco
Commodities
- Gold increased to $4,056.82 an ounce [75% of its recent high of $5,417 an ounce on 1/28/26]
- Silver increased to $58.72 an ounce [50% of its recent high of $116.70 an an ounce on 1/28/26]
- Copper increased to 631.60 [95% of its recent high of 667 on 6/2/26]
On Deck This Week:
- More Inflation data ahead: PPI will be released tomorrow, Wednesday, 7/15/26
- Fed Chair Warsh testifies before the Senate Banking Committee on its Semi-Annual Monetary Policy Report tomorrow, Wednesday, 7/15/26 at 10:00am EST
- Major Banks continue to reporting earnings tomorrow, Wednesday, 7/15/26 (full list below)
Upcoming US Treasury Supply
S&P 500 Put / Call Ratio
- CBOE SPX Put/Call Ratio (open interest) on 7/13/2026: 1.35
- CBOE SPX Put/Call Ratio (volume) on 7/13/2026: 1.24
Intraday the News
- Fast Company: ‘Hyperscale’ data centers get put on pause in New York in a historic move
- Zero Hedge: AI Companies Absorbing Office Space At Record Pace: Report
- Successful Farming: China Soybean Imports Hit Record June High on Strong Brazil Supplies
Upcoming Economic Releases & Fed Speakers
- 7/15/2026 at 08:30am EST: PPI Final Demand MoM / YoY
- 7/15/2026 at 08:45am EST: Fed’s Williams Delivers Keynote Remarks
- 7/15/2026 at 10:00am EST: Fed Chair Warsh Testifies Before Senate Banking Committee
- 7/15/2026 at 01:00pm EST: Fed’s Cook Speaks on Economic Outlook
- 7/15/2026 at 02:00pm EST: Fed Releases Beige Book
- 7/15/2026 at 06:30pm EST: Fed’s Musalem Delivers Welcome Remarks
- 7/16/2026 at 08:30am EST: Retail Sales
- 7/16/2026 at 10:00am EST: NAHB Housing Market Index & Pending Home Sales MoM / YoY
- 7/16/2026 at 12:30pm EST: Fed’s Logan Speaks on the Economy and Monetary Policy
- 7/16/2026 at 01:25pm EST: Fed’s Schmid Speaks at Kansas City Fed Economic Forum
- 7/16/2026 at 07:00pm EST: Fed’s Jefferson Speaks on Economy and Monetary Policy
- 7/18/2026 – 7/30/2026 : Fed’s External Communication Blackout
Upcoming Earnings Releases for Wednesday, July 15, 2026
Noteworthy Before-the-Open Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
ASML |
ASML |
$6.88 per share |
|
BlackRock |
BLK |
$12.53 |
|
BNY Mellon |
BNY |
2.23 |
|
Cintas |
CTAS |
1.24 |
|
Conagra |
CAG |
0.46 |
|
Elevance Health |
ELV |
6.21 |
|
First Horizon |
FHN |
0.52 |
|
Johnson & Johnson |
JNJ |
2.86 |
|
M&T Bank |
MTB |
4.66 |
|
Morgan Stanley |
MS |
2.93 |
|
PNC |
PNC |
4.46 |
|
Progressive |
PGR |
4.73 |
Noteworthy After-the-Close Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
Home Bancshares |
HOMB |
$0.61 per share |
|
J.B. Hunt Transport |
JBHT |
1.72 |
|
United Airlines |
UAL |
1.87 |