US Treasuries
- Treasuries traded weaker after the $42 bln 10yr auction. Higher oil prices and inflation concerns continue to pressure Treasuries
- 10s closed on Tuesday at 4.46 [Tuesday’s range in 10s: 4.41/4.465]
- 2s closed on Tuesday at 3.99 [Tuesday’s range in 2s: 3.955/4.00]
- 2y – 5y: + 13 bps
- 2y – 10y: + 47 bps
Intraday News Moving Markets
- On Deck tomorrow: PPI
- On Deck tomorrow: $25 bn UST 30y Auction (Wednesday, 5/13)
- Fed Speak: Fed’s Goolsbee Says Services Inflation May Point to Overheating
- Bloomberg: Warsh Confirmed to Fed Board, Still Awaiting Vote on Chair Post
Commodities
- Gold declined to $4,704 an ounce [87% of its recent high of $5,417 an ounce on 1/28/26]
- Silver declined to $86.332 an ounce [74% of its recent high of $116.70 an an ounce on 1/28/26]
Intraday Commentary From Jim Bianco
Dr. Copper, the metal witgh a PhD in economics.
*COPPER HITS $14,000 A TON ON LME, NEARING ALL-TIME HIGH
December 2026 Brent Crude Oil Futures are just a few cents from their highs.
Market signal that stress remains high over the war?
Adding to the chart above … the June 2027 contract (orange ) is at a new high.
Restated, the market is pricing an average price of $92.50 over the next year.
In the News
Upcoming Economic Releases & Fed Speak
- 5/13/2026 at 07:00am EST: MBA Mortgage Applications
- 5/13/2026 at 07:00am EST: PPI Final Demand MoM and YoY
- 5/13/2026 at 07:00am EST: PPI Ex Food and Energy MoM and YoY
- 5/13/2026 at 07:00am EST: PPI Ex Food, Energy, Trade MoM and YoY
- 5/13/2026 at 11:30am EST: Fed’s Collins Speaks on US Economy
- 5/13/2026 at 01:15pm EST: Fed’s Kashkari in Moderated Discussion
- 5/14/2026 at 08:30am EST: Import Price Index MoM and YoY / Import Price Index ex Petroleum
- 5/14/2026 at 08:30am EST: Export Price Index MoM and YoY
- 5/14/2026 at 08:30am EST: Initial Jobless Claims / Initial Claims 4-Wk Moving Avg / Continuing Claims
- 5/14/2026 at 08:30am EST: Retail Sales Advance MoM / Retail Sales Ex Auto MoM
- 5/14/2026 at 08:30am EST: Retail Sales Ex Auto and Gas / Retail Sales Control Group
- 5/14/2026 at 10:00am EST: Business Inventories
- 5/14/2026 at 10:15am EST: Fed’s Schmid Speaks on Payments Innovation and Community Banking
- 5/14/2026 at 01:00pm EST: Fed’s Hammack Gives Opening Remarks
- 5/14/2026 at 05:45pm EST: Fed’s Williams in Moderated Discussion
- 5/14/2026 at 07:00pm EST: Fed’s Barr Speaks on Balance Sheet
- 5/15/2026 at 09:15am EST: Industrial Production MoM / Manufacturing (SIC) Production / Capacity Utilization
- 5/18/2026 at 08:30am EST: New York Fed Services Business Activity
- 5/18/2026 at 10:00am EST: NAHB Housing Market Index
- 5/18/2026 at 04:00pm EST: Total Net TIC Flows / Net Long-term TIC Flows
- 5/19/2026 at 08:15am EST: ADP Weekly Employment Change
- 5/19/2026 at 10:00am EST: Pending Home Sales MoM / YoY
- 5/19/2026 at 07:00pm EST: Fed’s Paulson Gives Keynote Address and Speaks on Economic Outlook
Upcoming Earnings Releases for Wednesday, May 13, 2026
Noteworthy Before-the-Open Earnings Releases
|
Company |
Symbol |
Earnings estimate |
|
Alibaba |
BABA |
$6.14 per share |
|
Birkenstock Holding Plc |
BIRK |
0.59 |
|
Dynatrace |
DT |
0.39 |
|
Global-E Online |
GLBE |
0.17 |
|
Kornit Digital |
KRNT |
-0.02 |
|
National Vision |
EYE |
0.43 |
|
Tower Semiconductor |
TSEM |
0.56 |
|
Vishay |
VSH |
0.02 |
|
Wix.com |
WIX |
1.24 |
Noteworthy After-the-Close Earnings Releases
|
Company |
Symbol |
Earnings estimate |
|
Accelerant Holdings |
ARX |
$0.16 per share |
|
BitGo Holdings |
BTGO |
-0.16 |
|
Capital Southwest Corp. |
CSWC |
0.58 |
|
Copa Holdings |
CPA |
4.14 |
|
Doximity |
DOCS |
0.28 |
|
EquipmentShare |
EQPT |
-0.23 |
|
Grocery Outlet |
GO |
0.02 |
|
Jack In The Box |
JACK |
0.74 |
|
Manulife Financial |
MFC |
0.80 |
|
PayPay Corporation |
PAYP |
0.13 |
|
Prestige Consumer |
PBH |
1.39 |
|
STAAR Surgical |
STAA |
0.03 |
|
StubHub Holdings |
STUB |
0.01 |
|
Teekay Tankers |
TNK |
3.54 |
|
Veradermics |
MANE |
-0.64 |
|
WhiteFiber |
WYFI |
-0.28 |