US Treasuries
Treasuries were mixed after rallying earlier in the day on cooling inflation expectations. The yield on the 10y Note was little changed at 4.39%.
- 10s closed on Thursday at 4.39 [Thursday’s range in 10s: 4.36/4.42]
- 2s closed on Thursday at 4.12 [Thursday’s range in 2s: 4.09/4.16]
- 2y – 5y: + 4 bps
- 2y – 10y: + 27 bps
Intraday Commentary From Jim Bianco
*IRAN ATTACKED SINGAPORE-FLAGGED SHIP IN HORMUZ ON THURSDAY: WSJ
Will the headline above halt this recovery?
Oil turned around and rallied >$3 in the last few hours. I guess the market is mildly concerned about the headline immediately above.
Commodities
- Gold increased to $4,034.42 an ounce [74% of its recent high of $5,417 an ounce on 1/28/26].
- Silver increased to $58.12 an ounce [50% of its recent high of $116.70 an an ounce on 1/28/26]
- Copper increased to 608.60 [91% of its recent high of 667 on 6/2/26]
Economic Releases On Deck Next Week: Tuesday, (06/30/26): JOLTS and Thursday, (07/02/26): Nonfarm Payrolls
Upcoming US Treasury Supply
Intraday Commentary From Jim Bianco
Small cap stocks are surging, new all-time highs today.
The market gyrations began with the South Korean stocks getting smashed by 10% earlier this week. The Kopsi is bouncing back and is up 111% YTD.
BTC under $59K for the first time since September 2024. Down 54% from its $126K high last October.
In the News
OilPrice: Why the AI Boom Could Trigger the Biggest Energy Trade in Decades
CNBC: Apple raises prices on MacBook and iPad due to memory crunch, hints at more to come
Redfin: Fewer Homeowners Are Listing as Spring Market Ends With a Whimper, Not a Bang
Patrick De Hann (@GasBuddyGuy) on X:
Upcoming Economic Releases & Fed Speak
- 6/26/2026 at 10:00am EST: U. of Mich. Sentiment / Current Conditions / Expectations
- 6/26/2026 at 11:30am EST: Fed’s Kashkari at Aspen Ideas Panel
- 6/28/2026 at 12:35pm EST: Fed’s Barkin at Aspen Ideas Panel
- 6/30/2026 at 10:00am EST: JOLTS
- 7/01/2026 at 09:30am EST: ECB’s Lagarde, Fed’s Warsh, BOE’s Bailey, BOC’s Macklem
- 7/01/2026 at 09:30am EST: Fed’s Warsh Appears on Panel at ECB Forum
- 7/01/2026 at 10:00am EST: ISM Manufacturing
- 7/02/2026 at 08:30am EST: Change in Nonfarm Payrolls and Initial & Continuing Jobless Claims
Upcoming Earnings Releases for Friday, June 26, 2026
Noteworthy Before-the-Open Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
Apogee Enterprises |
APOG |
$0.45 per share |