US existing home sales data 22 April 2015

  • Prior 4.88m
  • Inventories 2.0m units, 4.6 months worth
  • 10% of sales were distressed vs 11% in Feb
  • Median house price $212,100 +7.8% y/y

A decent gain for sales which has given the dollar a boost to 119.85. US 10's now fetch 1.95%

Sales hit an 18month high but one caveat is that we're entering the time of year when sales can be strong as they pick up from the winter period