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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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Tue, 07/19/2011 - 07:55 | 1469509 Sudden Debt
Sudden Debt's picture

BAC's 8.5 billion loss?

AND WHAT'S THE DIVIDEND THIS TIME?! 

1 CENT?

0 ?

Stock dilution? 

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

 

Tue, 07/19/2011 - 08:14 | 1469537 disabledvet
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...

Tue, 07/19/2011 - 08:07 | 1469529 Dick Darlington
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.

Tue, 07/19/2011 - 08:30 | 1469562 PaperBear
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.

Tue, 07/19/2011 - 08:33 | 1469572 Mike2756
Mike2756's picture

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

Tue, 07/19/2011 - 09:17 | 1469715 John Law Lives
John Law Lives's picture

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

http://finance.yahoo.com/news/Dont-Hold-Your-Breath-Waiting-ms-216062684...

Meredith and Tyler got this one wrong.

Tue, 07/19/2011 - 09:44 | 1469811 Mike2756
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.

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