Today's Economic Data Docket - Housing Starts, Many European Headlines

Tyler Durden's picture

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

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Sudden Debt's picture

BAC's 8.5 billion loss?



0 ?

Stock dilution? 

It's not good to be: A BAC shareholder... HA!


disabledvet's picture

it would appear there was a problem with...Sudden Debt! And the point of government is again? "When we're not hiding it ourselves we're hiding it for...

Dick Darlington's picture

As usual, the key driver will be Europe-based headlines.

Or, for the lemmings, lack of news flow can be the key driver as was the case yday. These are fooked up times folks.

PaperBear's picture

Silver having a mild correction from $40.97/oz to $39.82/oz.

The housing start might disappoint so strengthening Ben's case for further QE.

Gold/silver bull trend is still on.

Mike2756's picture

Is it just me thinking that adding homes to a bloated market is a bad thing?

John Law Lives's picture

"Don't Hold Your Breath Waiting for Muni Armageddon"

Meredith and Tyler got this one wrong.

Mike2756's picture

True, they are starting to hold unions feet to the fire to cut costs. looks like labor will get thrown under the bus vs. the bondholders.