US Treasuries
- Treasury yields surged with the long bond hitting a high in yield of 5.195% (closing at 5.175%) on mounting inflation concerns
- 10s closed on Tuesday at 4.66 [Tuesday’s range in 10s: 4.595/4.685]
- 2s closed on Tuesday at 4.11 [Tuesday’s range in 2s: 4.05/4.135]
- 2y – 5y: + 21 bps
- 2y – 10y: + 55 bps
Intraday News Moving Markets
- Bloomberg: Surging Bond Yields Add to Pressures Building for Fed’s Warsh
- Fed’s Perli: Says T-Bill Purchases Can Be Adjusted Up or Down
On Deck tomorrow, Wednesday, 5/20:
- $16 billion UST 20y Bond Auction
- FOMC Meeting Minutes (at 2:00pm ET)
- Nvidia reports earnings (after the close)
On Deck Thursday, 5/21:
- $19 billion UST 10y TIPS (Reopening)
Commodities
- Gold decreased to $4,494 an ounce [83% of its recent high of $5,417 an ounce on 1/28/26]
- Silver decreased to $74.19 an ounce [64% of its recent high of $116.70 an an ounce on 1/28/26]
Upcoming US Treasury Supply
In the News
Supply Chain Brain: Straight of Hormuz: The Hidden Threat to Food and Packaging Supply Chains
Wisconsin State Farmer: Fertilizer shortages spur interest in compost as sustainable alternative
Upcoming Economic Releases & Fed Speak
- 5/20/2026 at 06:00am EST: Bloomberg May United States Economic Survey
- 5/20/2026 at 06:00am EST: MBA Mortgage Applications
- 5/20/2026 at 09:15am EST: Fed’s Barr Speaks on Consumer Financial Health
- 5/20/2026 at 02:00pm EST: FOMC Meeting Minutes
- 5/21/2026 at 08:30am EST: Initial Jobless Claims / Continuing Claims
- 5/21/2026 at 08:30am EST: Philadelphia Fed Business Outlook
- 5/21/2026 at 08:30am EST: Housing Starts / Building Permits
- 5/21/2026 at 09:45am EST: S&P Global US Manufacturing / S&P Services PMI / S&P Composite PMI
- 5/21/2026 at 11:00am EST: Kansas City Fed Manf. Activity
- 5/21/2026 at 06:00am EST: Bloomberg May United States Economic Survey
- 5/21/2026 at 12:20pm EST: Fed’s Barkin Speaks on the Economy
- 5/22/2026 at 10:00am EST: Fed’s Waller Speaks on Economic Outlook
- 5/22/2026 at 10:00am EST: U. of Mich. Sentiment / Current Conditions / Expectations / 1Yr & 5-10 Yr Inflation
- 5/22/2026 at 11:00am EST: Kansas City Fed Services Activity
- 5/26/2026 at 08:15am EST: ADP Weekly Employment Change
- 5/26/2026 at 08:30am EST: Chicago Fed Nat Activity Index
- 5/26/2026 at 09:00am EST: FHFA House Price Index MoM
- 5/26/2026 at 09:00am EST: House Price Purchase Index QoQ
- 5/26/2026 at 09:00am EST: S&P Cotality CS 20-City MoM SA / YoY NSA
- 5/26/2026 at 09:00am EST: S&P Cotality CS HPI YoY NSA
- 5/26/2026 at 10:00am EST: Conf. Board Consumer Confidence / Present Situation / Expectations
- 5/26/2026 at 10:30am EST: Dallas Fed Manf. Activity
Upcoming Earnings Releases for Wednesday, May 20, 2026
Noteworthy Before-the-Open Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
Analog Devices |
ADI |
$2.89 per share |
|
Arcos Dorados |
ARCO |
0.12 |
|
Dorian LPG |
LPG |
1.45 |
|
GDS Holdings |
GDS |
-0.23 |
|
Hasbro |
HAS |
1.16 |
|
Lowe’s |
LOW |
2.97 |
|
Roivant Sciences |
ROIV |
-0.29 |
|
Target |
TGT |
1.42 |
|
TJX |
TJX |
1.02 |
|
V.F. Corp |
VFC |
-0.01 |
Noteworthy After-the-Close Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
Nvidia |
NVDA |
$1.78 per share |
|
e.l.f. Beauty |
ELF |
$0.29 |
|
Enersys |
ENS |
2.99 |
|
Intuit |
INTU |
12.57 |
|
Nordson |
NDSN |
2.82 |
|
StepStone Group |
STEP |
0.52 |
|
Urban Outfitters |
URBN |
1.14 |