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Post-New Home Sales, Consumer Confidence React, Tsys Rebound

US TSY FUTURES
  • Treasury futures moving higher again, still off early session highs, following New Home Sales came out slower than expected: 675k vs. 699k est; prior up-revised to 739k from 714k, MoM -8.7% vs. -2.2% est. Conf. Lower than expected Consumer Confidence: 103 vs. 105.5 est.
  • Current Dec'23 10Y futures +4.5 at 108-10 vs. 108-17 high, 10YY at 4.5131% -.0203. Technical resistance above at 109-03/109-17+ (Low Sep 13 / 20-day EMA), while round number support holds below at 108-00 after falling to 108-00.5 early overnight.
  • Curves flatter, but off ;lows: 3M10Y -1.802 at -96.812, 2Y10Y -2.469 at -62.050.

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