Treasury Auctions, Fed Line Up, Economic Calendar

Treasury Auctions

11:30 a.m. Treasury hosts a $69B 17-Week Bill Auction; 

2:00 p.m.: Treasury buyback (liq support); 

2:00 p.m.: Fed Beige Book

Fed Speakers: 

9:00 a.m.: Fed Board Governor Barr (Voter) participates in conversation before the Community Development Bankers Association (CDBA) Peer Forum 2026, Washington, DC (No text. Q&A from moderator. Webcast at https://www.youtube.com/watch?v=TqBUenL–EI); 

4:00 p.m.: Fed Bank of Dallas President Logan (Voter) shares insights from her leadership role at the Federal Reserve, being a voting member of the Federal Open Market Committee and perspectives on the evolving economic landscape in a conversation as part of the “Listening in 360 Tour,” El Paso, TX 

(No text. Livestream at https://vimeo.com/event/5962846/embed/259f522fb5 OR https://www.youtube.com/live/zc6iogFFkG0)

Economic Calendar

Positions: None.

Tweet of the Day (Part Four)

Position: None

Tweet of the Day (Part Trois)

Position: None

Private Equity Shares

Look for more weakness in private equity shares today:

Position: None

They Always Have Reasons…

To be clear, $PANW traded +$35 after the EPS release and is now -$50/share lower.

I thought Jim’s dismissal of the reversal was symptomatic of how speculative the market has become — in a “heads I win, tails I win” backdrop.

So I see a different message…. and a more punitive outcome (for the Nasdaq). 

Position: None

Tweet of the Day

Position: None