• Wall Street equities had another mixed performance on June 25, with the DJIA slide by -0.76%, the S&P 500 rose by +0.39% and the Nasdaq surged by +1.26%.
• Stock indexes seesawed on Tuesday, with a rally in mega-cap tech stocks lifted the overall market, while Carnival’s strong financial fueled more than 8% surged. The broader market sustained its gains after June's US consumer confidence exceeded expectations.
• The 10-yr UST yields eased by -2.0 bps to 4.25%, with the 2-yr yields dipped by -6.0 bps to 4.65%. T-notes rebounded Tuesday afternoon on strong demand for the Treasury’s USD69bn 2-year T-note auction, with a bid-to-cover ratio of 2.75, above the 10-yr auction average of 2.63.
• June's US consumer confidence index showed a minor decline to 100.4, however, it remained above the pre-pandemic level and exceeded analyst predictions of 100.0.
• The US home price growth moderated slightly in April, according to the S&P CoreLogic Case-Shiller 20-city index. The index rose 7.2% YoY, exceeding expectations of 7.0% but down from 7.46% in March.
• In Asia, Hong Kong's trade gap narrowed significantly in May 2024, with the deficit falling to USD12bn compared to USD26.4bn in the same month last year. This positive development is driven by a surge in exports.
• Global bond yields moved lower on Tuesday: the 10-yr German bund yield fell by -0.7 bps to 2.41%, the 10-yr UK gilt yield edged down by -0.2 bps to 4.08%, and the Japanese 10-yr JGB yield rose by +0.8 bps to 1.00%.
