June 27, 2024 14:16 GMT
Treasuries lead Rates and Bonds higher
CROSS ASSET
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- The continued bounce in US Treasuries is still somewhat perplexing, since the latest set of Data release and hour and a half ago were quite mixed.
- Pending home sales did see a decent miss, albeit not a real known market mover.
- The move is clearly rate related, given that the rallies are targeted in the SOFR strip and Treasuries, and no spill overs into Equites, and a lack of clear momentum in the push lower in the Dollar , despite the falls in Yields.
- Resistance in TYU4 is seen further out, up to 110.25.
- Similar for Bund, it is at 132.52.
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