Morning Juice – US Session Prep (3rd August)

Sentiment
Treasury Secretary Bessent’s support for a Federal Reserve facility that Japan can use to bolster the yen has the added benefit of safeguarding the US bond market from excessive sales. The US and Japan’s first simultaneous action on the yen in 15 years, with threats that they will not “hesitate” to intervene again, has shown their unparalleled desire to safeguard the Asian currency.
Treasuries rose while oil plummeted, on news that Trump had called off further strikes on Iran. Benchmark 10-year Treasury rates decreased 5 basis points to 4.68%, reversing Friday’s gain in yields

Docket
09:45 ET
US S&P Manufacturing PMI July Final
Forecast: 53.8 | Prior: 53.8 | Range: 54.4 / 53.7

10:00 ET
US ISM Manufacturing PMI for July
Forecast: 54 | Prior: 53.3 | Range: 57 / 52.9

15:00 ET
US Treasury QRA Estimates

Speakers & Events
13:30 ET
Trump signs an Executive Order

Earnings
16:05 ET
Palantir Q2 2026 Earnings
Est. EPS: $0.35
Est. Rev: $1.81B

Good luck!