US Treasuries
- Treasuries ended up little changed on the day after receiving a modest boost from the strong JOLTS report
- 10s closed on Tuesday at 4.45 [Tuesday’s range in 10s: 4.42/4.46]
- 2s closed on Tuesday at 4.05 [Tuesday’s range in 2s: 4.005/4.05]
- 2y – 5y: + 13 bps
- 2y – 10y: + 40 bps
Intraday Commentary From Jim Bianco
Bitcoin is down almost 6% today. 3-day tick chart:
Why? No one story … but yesterday, Michael Saylor’s Strategy sold BTC for the first time ever late last week. This is being viewed as a psychological blow from one the largest owners of BTC. We addressed this in Newsclips today.
Join Us For Our Next Conference Call this Thursday, June 4, 2026, Featuring Jim Bianco
- Fed’s Hammack: Says Fed May Need to Act Soon Against High Inflation
- Nick Timiriaos on X: Cleveland Fed President Beth Hammack says if recent trends continue, rate hikes may “soon” be appropriate
“If we wait for definitive evidence that high inflation has become embedded in the economy, it may require larger policy adjustments, at greater cost.”
- US High-Grade Bond sales top $1 trillion sooner than in any year since 2020 as historically low spreads and spending surge on AI fuel borrowing from blue-chip companies
- Jobs Data this week: Wednesday (6/3): ADP Employment Change; Thursday (6/4): Initial Jobless Claims and Friday (6/5): Change in Nonfarm Payrolls
Commodities
- Gold was little changed at $4,489 an ounce [83% of its recent high of $5,417 an ounce on 1/28/26]
- Silver was little changed at $75.23 an ounce [65% of its recent high of $116.70 an an ounce on 1/28/26]
Upcoming US Treasury Supply
In the News
Upcoming Economic Releases & Fed Speak
- 6/03/2026 at 08:15am EST: ADP Employment Change
- 6/03/2026 at 09:00am EST: Fed’s Barr in Moderated Discussion
- 6/03/2026 at 09:45am EST: S&P Global US Services PMI / ISM Services Index / Durable Goods
- 6/03/2026 at 02:00pm EST: Fed Releases Beige Book
- 6/03/2026 at 04:00pm EST: Fed’s Logan in Moderated Discussion
- 6/04/2026 at 07:30am EST: Challenger Job Cuts Total / YoY
- 6/04/2026 at 04:00pm EST: Fed’s Barkin Fireside Chat
- 6/04/2026 at 08:30am EST: Initial Jobless Claims / 4-Wk Moving Avg / Continuing Claims
- 6/05/2026 at 08:30am EST: Change in Nonfarm Payrolls / Two-Month Payroll Net Revision / Unemployment Rate
- 6/06/2026 at 12:00pm EST: Fed’s Barr Speaks on Supervision & Regulation
Upcoming Earnings Releases for Wednesday, June 3, 2026
Noteworthy Before-the-Open Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
Macy’s |
M |
$0.03 per share |
|
Medtronic |
MDT |
1.54 |
|
MiniMed |
MMED |
-0.12 |
|
Ollie’s Bargain Outlet |
OLLI |
0.87 |
|
Sprinklr |
CXM |
0.10 |
Noteworthy After-the-Close Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
Broadcom |
AVGO |
$2.39 per share |
|
CrowdStrike |
CRWD |
$1.07 |
|
Descartes |
DSGX |
0.52 |
|
Five Below |
FIVE |
1.76 |
|
Netskope |
NTSK |
-0.07 |
|
Petco Health and Wellness |
WOOF |
0.01 |
|
PVH |
PVH |
1.82 |
|
Veeva Systems |
VEEV |
2.14 |