Friday Evening - US Data releases

 A slew of U.S. economic data were released today. 

Pending Home Sales rose 2.50% mom against prior revised contraction of 2.60% (prior -4%). Pending home sales sank 33.8% yoy. However, the current surprise uptick in pending homes sales suggests a bottom could be in the offing.

The University of Michigan Sentiment rose to 64.90 from prior 64.60

Personal Consumption Expenditure fell 0.20% from prior revised number of 0.10% contraction

Core PCE Price Index rose 0.30% mom (4.40% yoy) vs prior 0.20% (4.70%)

Market pricing of interest rates continues to be stable. 2Y US Treasuries trade at 4.21% while 10Y trades at 3.52% but the 2Y and 5Y USD SOFR swaps are trading right at 4.22% and 3.41% respectively. The DXY Index is down 11.50% since Sep end and has taken support at 101.50 for the last 8 trading sessions. The index looks ripe for a corrective bounce but in absence of a catalyst, we like to stay on the sidelines or invest about 20% of the capital just to dip our hands.