PERU: Government Reaffirms 3.5% GDP Growth Forecast For This Year

• Treasuries trade firmer, extending highs briefly after lower than expected JOLTS openings, quits level lower (prior down-revised), layoffs broadly lower than expected.
• Currently, Sep'25 10Y trades +9.5 at 111-02 (110-24L / 111-02H).
• Technical resistance above at 111-14.5, July 22 high. A clear break of it would highlight a stronger reversal and open 111-28, the Jul 3 high
• Curves flatter: 2s10s -0.554 at 47.231; 5s30s -2.076 at 96.629.
• Cross asset: Bbg US$ index off highs at 1210.91 (+2.97), stocks off lows (SPX eminis +10.25 at 6433.00), crude firmer (WTI +0.54 at 67.25), Gold firmer at 3317.20.

The Senate Banking Committee will convene shortly to mark up the 'ROAD to Housing Act of 2025', its first bipartisan housing bill in over 10 years, responding to a push from President Donald Trump for Congress to do more to address housing affordability.

• Senate Banking Committee Chair Tim Scott (R-SC), who co-sponsored the bill with progressive Democratic Senator Elizabeth Warren, said: “Since taking over as ranking member in 2022, I pledged to make housing a top priority and put forward commonsense reforms to reverse decades of failed housing policies. Now, as chairman, I’m proud to lead the committee in considering comprehensive legislation that will increase access to affordable housing for Americans across the country.”
• The legislation “marks a first step toward curbing government overreach and expanding the housing supply,” according to Senator Bill Hagerty (R-TN).
• Economist, Mark Zandi, said on X: “I’ve been handwringing about the troubled housing market and the lack of a policy response to the severe affordable housing shortage. Finally, some good news: a bipartisan bill, “ROAD to Housing Act,” is making some legislative headway. It’s no game-changer, but policymakers are finally in the game.”
• National Association of Affordable Housing Lenders (NAAHL) said in a statement: “If enacted, the ROAD to Housing Act will increase investments and remove unnecessary barriers to development to boost housing supply and bring down housing costs for American families in urban, suburban and rural communities,”

• MNI: US BLS: JOLTS QUITS RATE 2.0% IN MAY; APR REVISED TO 2.0%