US Treasuries
The yield on the Ten year Note rose to 4.63% as oil prices climbed with WTI Crude at $84.91 a barrel.
- 10s closed on Tuesday at 4.63 [Tuesday’s range in 10s: 4.58/4.64]
- 2s closed on Tuesday at 4.26 [Tuesday’s range in 2s: 4.19/4.26]
- 2y – 5y: + 11 bps
- 2y – 10y: + 37 bps
Bloomberg: US Yields Hit Two-Month High as Oil Sparks Inflation Risk
Intraday News From Bianco Research
Someone mentioned momentum stocks falling…
Three different views here. 1st and 3rd are the same view, but one or the other might be clearer to some. The multi-grey line chart shows momentum yearly returns since 2000. This is still the second best year for momentum stocks since 2000 through today.
On Deck This Week
- Alphabet kicks off quarterly earnings from AI hyperscalers tomorrow, Wednesday, 7/22/26
Treasury Auctions this week:
- $13 billion UST 20 year Bond Auction (Reopening) tomorrow, Wednesday, 7/22/26
- $21 billion UST 10 year TIPS auction on Thursday, 7/23/26
Commodities
- Gold increased to $4,083.08 an ounce [75% of its recent high of $5,417 an ounce on 1/28/26]
- Silver increased to $58.95 an ounce [50% of its recent high of $116.70 an an ounce on 1/28/26]
- Copper increased to 648.95 [97% of its recent high of 667 on 6/2/26]
Upcoming US Treasury Supply
S&P 500 Put / Call Ratio
- CBOE SPX Put/Call Ratio (open interest) on 7/16/2026: 1.35
- CBOE SPX Put/Call Ratio (volume) on 7/16/2026: 1.15
Intraday the News
- Successful Farming: American Farmers May See Deeper Losses in 2027
- Zillow: More Than 300,000 Empty Lots For Sale Could Close America’s Housing Shortage by 6%
- Arbor Data Science: U.S. Data Center Power Demand Set to Double by 2027 – Can the Grid Keep Up?
Upcoming Economic Releases & Fed Speakers
- 7/23/2026 at 08:30am EST: Initial Jobless Claims / Continuing Claims
- 7/24/2026 at 09:45am EST: S&P Global US Manufacturing PMI / Services PMI / Composite PMI
- 7/24/2026 at 10:00am EST: New Home Sales
- 7/27/2026 at 08:30am EST: Durable Goods Orders & Cap Goods Orders
- 7/28/2026 at 08:30am EST: ADP Weekly Employment Change
- 7/29/2026 at 01:00pm EST: FOMC Rate Decision
- 7/18/2026 – 7/30/2026 : Fed’s External Communication Blackout
Upcoming Earnings Releases for Wednesday, July 22, 2026
Noteworthy Before-the-Open Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
AT&T |
T |
$0.59 per share |
|
Badger Meter |
BMI |
1.01 |
|
BankUnited |
BKU |
1.00 |
|
Cal-Maine Foods |
CALM |
0.08 |
|
CME Group |
CME |
2.91 |
|
GE Vernova |
GEV |
3.19 |
|
Moody’s |
MCO |
4.24 |
|
Northern Trust |
NTRS |
2.71 |
|
Old National Bancorp |
ONB |
0.63 |
|
Philip Morris International |
PM |
2.02 |
|
PulteGroup |
PHM |
2.36 |
|
Rogers Comms |
RCI |
0.80 |
|
RPM Inc |
RPM |
1.83 |
|
Stifel Financial |
SF |
1.33 |
|
TE Connectivity |
TEL |
2.84 |
|
Teledyne Tech |
TDY |
5.79 |
|
Travel + Leisure Co |
TNL |
1.89 |
|
Wabtec |
WAB |
2.60 |
|
Company |
Symbol |
Earnings estimate |
|
Alphabet |
GOOGL |
$2.90 |
|
AvalonBay |
AVB |
2.80 |
|
Cathay Bancorp |
CATY |
1.35 |
|
Century Communities |
CCS |
0.64 |
|
Community Health |
CYH |
-0.10 |
|
Crown Castle |
CCI |
1.04 |
|
CSX |
CSX |
0.52 |
|
EastGroup |
EGP |
2.36 |
|
Equity Lifestyle Properties |
ELS |
0.72 |
|
Equity Residential |
EQR |
1.01 |
|
Essential Properties Realty Trust |
EPRT |
0.54 |
|
First American Financial |
FAF |
1.81 |
|
First Industrial Realty |
FR |
0.80 |
|
Fulton Fincl |
FULT |
0.41 |
|
Getty Realty Corp. |
GTY |
0.63 |
|
Globe Life |
GL |
3.67 |
|
Goosehead Insurance |
GSHD |
0.47 |
|
Graco |
GGG |
0.81 |
|
IBM |
IBM |
2.91 |
|
Kaiser Alum |
KALU |
2.47 |
|
Kinder Morgan |
KMI |
0.32 |
|
Knight-Swift |
KNX |
0.51 |
|
Las Vegas Sands |
LVS |
0.76 |
|
Liberty Energy |
LBRT |
0.08 |
|
Medpace |
MEDP |
3.98 |
|
Molina Healthcare |
MOH |
1.39 |
|
Oceaneering Intl |
OII |
0.46 |
|
Packaging Corp |
PKG |
2.31 |
|
Pinnacle Finl |
PNFP |
2.46 |
|
QuantumScape |
QS |
-0.18 |
|
Raymond James |
RJF |
2.93 |
|
Reliance, Inc. |
RS |
5.44 |
|
RenaissanceRe |
RNR |
11.7 |
|
RLI Corp |
RLI |
0.72 |
|
Rollins |
ROL |
0.34 |
|
SEI Investments |
SEIC |
1.44 |
|
ServiceNow |
NOW |
0.86 |
|
SL Green Realty |
SLG |
1.20 |
|
Sonoco Products |
SON |
1.47 |
|
Stewart Info |
STC |
1.63 |
|
Tesla |
TSLA |
0.54 |
|
Texas Capital |
TCBI |
1.87 |
|
Texas Instruments |
TXN |
1.92 |
|
Waste Connections |
WCN |
1.36 |
|
WEX |
WEX |
5.07 |
|
Wyndham Hotels & Resorts |
WH |
1.41 |