Bonds start the week in a consolidation mode, with T-Bonds up +3.7pts to 4.258%, and the 30-year up +2.5% to 4.417%.
The macroeconomic agenda was minimalist this Monday in the US, with the publication shortly after the opening of Wall Street of new home sales: they fell imperceptibly, by -0.3% in February compared with the previous month, to 662,000 units at an annualized rate, according to the Commerce Department.000 units at an annualized rate, according to the Commerce Department, following a 1.7% rise in January.

The median house price was $400,500, and the average price was $485,000. The inventory of new homes for sale stood at 463,000 at the end of February, representing a reserve of around 8.4 months at the then rate of sales.

In Europe, traders were busy with business as usual: Bunds and OATs were down +4.5pts and +5pts respectively, at 2.3680% and 2.850%.
Further south, Italian BTPs were up +5.3pts at 3.6700%, while Spanish Bonos were up +5.1% at 3.201%.
Across the Channel, Gilts deteriorated by +9pts to 4.02%, the worst performance among Western sovereign debts.

Tight interest rates did not prevent gold from advancing by +0.6% to $2,180, and Brent crude oil stood out this evening with an advance of over 1.5% in London, retesting the recent $87 high (average price from 1:00 pm to 6:00 pm).

Copyright (c) 2024 CercleFinance.com. All rights reserved.