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Post-Pending Home Sales React

US TSYS
  • Tsy futures had already been marking new lows, extend lows after higher than expected Pending Home Sales MoM a whopping 8.3% increase vs. 2.0% est (prior down-revised to -0.3% from 0.0%), YoY: -1.0% vs -4.3% est, while prior down revised to -5.5% from -5.1%.
  • Mar'24 10Y futures tap 111-01 low, trades 111-02 last (-8), yield climbs to 4.0592% high - well off week high of 4.0959%.
  • Nearing initial technical support at 110-26 (Low Jan 19) followed by 110-16 (Low Dec 13). Curves remain flatter: 2s10s -2.186 at -20.084.
  • Next up: Kansas City Fed Services Activity (-10, --) at 1100ET

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