Housing starts and permits for June. As usual, the key driver will be Europe-based headlines. There is a tiny POMO closing at 11 am.
8:30: Housing starts (June): Roughly flat. We expect that new construction activity was about unchanged in June after a 3.5% (mom) increase in May. Both new home sales and the NAHB homebuilder sentiment index have been roughly flat over the last several months.
Starts: GS: Flat; Consensus: +2.7%; Last +3.5%. MAP: 1
Permits: Consensus: -2.3%; Last +8.7%. MAP: 0
11:00: Small $0.5-1.0 billion POMO for bonds maturing 01/31/2013-01/15/2014
19:30: Kansas City Fed President Thomas Hoenig on “Monetary Policy and Agriculture”.
From GS and ZH