US Treasuries
The yield on the 10 year Note declined to 4.68%. The range in 10s for the week was 4.54% – 4.71%.
- 10s closed on Friday at 4.68 [Friday’s range in 10s: 4.65/4.705]
- 2s closed on Friday at 4.33 [Friday’s range in 2s: 4.31/4.36]
- 2y – 5y: + 10 bps
- 2y – 10y: + 35 bps
Bloomberg: Momentum Crash Hits YOLO Traders’ Returns by Most in Four Years
On Deck Next Week
- Treasury Auctions: $69 billion UST 2 year Note Auction and $70 billion UST 5 year Note Auction both on Monday, 7/27/26, followed by $44 billion UST 7 year Note Auction on Tuesday, 7/28/26
- FOMC Rate Decision on Wednesday, 7/29/26
- PCE Price Index will be released on Thursday, 7/30/26
Upcoming US Treasury Supply
Intraday News From Bianco Research
Commodities
- Gold increased to $4,055.68 an ounce [75% of its recent high of $5,417 an ounce on 1/28/26]
- Silver increased to $58.36 an ounce [50% of its recent high of $116.70 an an ounce on 1/28/26]
- Copper increased to 631.40 [94% of its recent high of 667 on 6/2/26]
U.S. Treasury Trade Fails
As of 07/23/2026, U.S. Treasury Fails were $23.85 Billion Agency Fails were $21.32 Million
TIPS By Maturity
Week over Week Changes by Maturity
- < 2 years: $22.8 Bn on 7/8/2026 to $21.5 Bn on 7/15/2026 = ($1.3) Bn
- 2 – 6 years: $4.6 Bn on 7/8/2026 to $5.6 Bn on 7/15/2026 = $1.0 Bn
- 6 – 11 years: $3.6 Bn on 7/8/2026 to $2.9 Bn on 7/15/2026 = ($0.7) Bn
- > 11 years: $1,042 Mn on 7/8/2026 to $1,114 Mn on 7/15/2026 = $72 Mn
Intraday the News
- Bloomberg: BlackRock Kicks Off $12.3 Billion Bond Sale for Meta Data Center
- OilPrice: Lithium Prices Sink To Five-Month Lows Amid Oversupply Jitters
- Arbor Data Science: Copper: Inelastic Demand Meets Damaged Supply
- realtor.com: Mortgage rate Lock-in Persists, With Ultralow Rate Holders Showing Little Sign of Budging
Upcoming Economic Releases & Fed Speakers
- 7/27/2026 at 08:30am EST: Durable Goods Orders & Cap Goods Orders
- 7/28/2026 at 08:30am EST: ADP Weekly Employment Change / Retail & Wholesale Inventories MoM
- 7/29/2026 at 01:00pm EST: FOMC Rate Decision
- 7/30/2026 at 08:30am EST: Personal Income/Spending and PCE Price Index MoM & YoY
- 7/30/2026 at 08:30am EST: Initial Jobless Claims / GDP Annualized QoQ
- 7/31/2026 at 10:00am EST: U. of Mich. Sentiment / Current Conditions / Expectations
- 7/18/2026 – 7/30/2026 : Fed’s External Communication Blackout
Upcoming Earnings Releases for Monday, July 27, 2026
Noteworthy Before-the-Open Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
Bank of Hawaii |
BOH |
$1.46 per share |
Noteworthy After-the-Close Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
Agilysys |
AGYS |
$0.40 per share |
|
Amkor |
AMKR |
0.47 |
|
Applied Digital |
APLD |
-0.21 |
|
Bank of N.T. Butterfield & Son |
NTB |
1.51 |
|
Brixmor Property |
BRX |
0.58 |
|
Brown & Brown |
BRO |
1.08 |
|
Cadence Design |
CDNS |
2.05 |
|
Celestica |
CLS |
2.30 |
|
Cincinnati Financial |
CINF |
1.84 |
|
Element Solutions |
ESI |
0.43 |
|
F5 Networks |
FFIV |
4.00 |
|
Happen |
HAPN |
0.42 |
|
Hope Bancorp |
HOPE |
0.26 |
|
Kforce |
KFRC |
0.70 |
|
Kilroy Realty |
KRC |
0.89 |
|
Navitas Semiconductor |
NVTS |
-0.04 |
|
Noble Corporation |
NE |
0.15 |
|
Nucor |
NUE |
4.46 |
|
Principal Financial |
PFG |
2.34 |
|
Sanmina |
SANM |
2.77 |
|
Simpson Manufacturing |
SSD |
2.72 |
|
Sun Communities |
SUI |
1.76 |
|
UDR |
UDR |
0.63 |
|
Universal Health |
UHS |
5.94 |
|
Welltower |
WELL |
1.56 |
|
Whirlpool |
WHR |
-0.06 |