Reply To: Traders Market Weekly: Rates, Banks and Herd Mentality


New home sales decreased 0.3% month-over-month in February to a seasonally adjusted annual rate of 662,000 units (consensus 680,000) from an upwardly revised 664,000 (from 661,000) in January. On a year-over-year basis, new home sales were up 5.9%.

The key takeaway from the report is that the overall level of sales was largely unchanged from January while the median selling price decreased for the sixth consecutive month, which is a welcome development for potential buyers.

Treasury yields are higher today.

10-yr note yield is up two basis points to 4.24%
2-yr note yield is up three basis points to 4.63%.

2-yr: +3 bps to 4.63%
3-yr: +3 bps to 4.40%
5-yr: +4 bps to 4.24%
10-yr: +3 bps to 4.25%
30-yr: +2 bps to 4.42%