Credit Ágricole: FX & Gold Outlook, 10s +2bp — desk brief, Fri 17 Jul 2026
Treasuries (close 2026-07-16): 2s 4.16% (+3.0bp), 10s 4.57% (+2.0bp), 30s 5.09% (+1.0bp).
Tape (close 2026-07-16): VIX 16.73, 2s10s +41bp.
Narrative: Chevron Will Explore a Pipeline to Bypass the Strait of Hormuz. Here's What it Means for the Energy Stock.
What mattered:
• Credit Ágricole: FX & Gold Outlook
• US Housing Starts Rebound on Multifamily Construction
• University Michigan Sentiment Prelim Actual 54.4 (Forecast 51, Previous 49.5)
• University Michigan 1 Yr Inflation Prelim Actual 4.2% (Forecast 4.4%, Previous 4.6%)
• US Building Permits Actual 1.367M (Forecast 1.403M, Previous 1.410M)