TREASURIES-Bonds gain on weaker home sales
Published: 24 Sep 2009 06:12:40 PST(Updates with reaction to drop in U.S. existing home sales)
NEW YORK, Sept 24 - U.S. Treasury debt prices climbed on Thursday after data showing a surprise drop in existing home sales, although the bond market's gains were curbed by an improved reading on the labor market.
Benchmark 10-year note yields, which move opposite to price, eased one basis point to 3.41 percent as the price rose 30/32.
The National Association of Realtors said sales of existing U.S. homes fell 2.7 percent to an annual rate of 5.10 million units, from 5.24 million units in July. That compared to market expectations for a 5.35 million unit pace.
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