US pending home sales index
- Prior was -1.5% (revised to -1.2%)
- Index level at 71.6 vs 71.4 prior
The latest housing data has been soft but the market can safely ignore it as lower Treasury yields are leading to lower borrowing costs and that will inevitably lead to faster housing activity. The drop in Treasury yields has been one of the fastest on record so it will take some time to flow into readings like this.
