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Post-Home Sales, Leading Index React

US TSY FUTURES
  • Treasury futures see-sawing around session lows after drop in Existing Home Sales to 4.19M from 4.38M prior comes out more or less in line with expectations (4.2m) MoM -4.3% from 9.5% prior (-4.1% est).
  • Leading index -0.3% vs -0.1% est (prior up-revised to 0.2% from 0.1%).
  • Treasury futures had extended lows prior to the data following comment from NY Fed Williams on potential for a data driven rate hike in the future.
  • Jun'24 10Y trading 107-27.5 last (-9.5) vs. 107-25 low, still inside initial technicals with support at 107-13.5 (Apr 16 low) vs r 108-25.5 resistance (Apr 12 high). 10Y yield 4.5977% +.0104, curves off lows: 2s10s +.491 -34.206.

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