End of Day Summary – June 1, 2026

Intraday News  •  June 1, 2026
Edited by Kristen Radosh

US Treasuries

  • Treasury yields climbed higher, along with oil prices, as talks with Iran stalled earlier in the day and remain uncertain
  • 10s closed on Monday at 4.47     [Monday’s range in 10s: 4.44/4.515] 
  • 2s closed on Monday at 4.04       [Monday’s range in 2s: 4.02/4.09]
  • 2y – 5y:   + 13  bps
  • 2y – 10y: + 42 bps  

Intraday Commentary From Jim Bianco

 
*IRAN TO STOP EXCHANGE OF MESSAGES WITH US OVER ISRAEL: TASNIM
 
Remember, the MOU is not a deal. It’s a framework for beginning to talk about a deal. During the Paris Peace talks in the 1960s/1970s, the North Vietnamese spent about 10 weeks arguing about the shape of the table they would sit at to start negotiations. That was late 1968 to early 1969. 
The peace deal was completed in 1973, but the war did not end until 1975. History does rhyme. 
 
Crude oil spiking on no talking, and potentially this headline too. Now up about 6%.
 
*IRAN’S TASNIM: ‘AXIS OF RESISTANCE’ TO ACTIVATE ALL FRONTS

 

Iran to stop exchange of messages with US in protest of Israel’s escalation in Lebanon, the semi-official Tasnim reports, citing a statement. Iran and the “Axis of Resistance” has placed on their agenda the complete closure of the Strait of Hormuz and the Bab al Mandab Strait. 

 

The Iranian negotiating team will suspend “talks and the exchange of documents through mediators,” says Tasnim.

 
Remember that we do not even talk directly with the Iranians, we go through other countries like Oman, the UAE, and Pakistan. 

 

The ISM report supports the market pricing an 85% probability of a Fed HIKE in 2026.

Looks like Kevin Warsh’s first public appearance as Fed Chairman will be the presser on June 17. If he still wants to advocate for a rate cut, he’s got a lot of work to do.

 
Crude up now up 8%

  

 

 

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Intraday News Moving Markets

Commodities

  • Gold declined to $4,487 an ounce [82% of its recent high of $5,417 an ounce on 1/28/26] 
  • Silver declined to $75.29 an ounce [64% of its recent high of $116.70 an an ounce on 1/28/26]

Upcoming US Treasury Supply 

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