Housing Starts

Key Events In The Coming Week

Looking at the week ahead, the US election enters the home stretch and politics will likely dominate the headlines, especially the closer races in Congress. Despite data being overshadowed by politics, there are some key US releases coming up, with the first estimate of Q3 GDP, the employment cost index and durable goods the main focus.

Global Stocks, US Futures Modestly Higher As Debate Digested, Draghi Eyed

Global stocks were modestly higher, before the European Central Bank gives its policy update, while investors weigh mixed earnings results. Asian stocks rise, U.S. equity-index futures are little changed.  The euro touched its weakest level since July and stocks in the region fell after their first back-to-back gains in two weeks.

Housing Starts Crash Most In 5 Years To 18-Month Lows

Following August's disappointing dump in Housing Starts (and Permits), September data is an utter disaster. Against expectations of a 2.9% rise, Housing Starts plunged 9.0% in September to 1.047mm - the weakest since March 2015. Year-over-year, Starts have crashed almost 12% - the most since April 2011, driven by a collapse in multi-family housing. Permits offered some hope for the future (although current starts suggests historical permits were a weak indicator).

US Futures, Global Stocks Mixed After Lackluster Chinese Economic Data; Oil Rises Over $51

US futures were little changed, with European shares lower, and Asian stocks higher as caution returned after last night's Chinese economic data did little to clear up how the world's second largest economy is performing, and provided few positives for investors ahead of the third and final U.S. presidential debate; imminent announcements from both the ECB and the Fed also will keep traders on their toes today.

Key Events In The Coming Week

The key economic releases this week include industrial production on Monday, CPI on Tuesday, and housing starts on Wednesday. There are several scheduled speeches from Fed officials this week. The Beige Book for the November FOMC period will be released on Wednesday.

Key Events In The Coming Week

In the US focus will be on the market's reaction to the second presidential debate, FOMC Minutes but also retail sales, import and producer prices and Michigan sentiment. We also hear from various Fed speakers throughout the week, and Chair Yellen gives a keynote speech on Friday.

New Home Sales Tumble As Prices Hit 2-Year Lows

Following July's exuberant spike, August saw new home sales tumbled 7.6% MoM (better than expected 8.3% drop) catching down to Existing and Pending Home Sales (and Housing Starts) plunge. Perhaps more problematic, the median new home price slipped to $284k, its lowest since September 2014. Probably a good time to hike interest rates...

Key Events In The Coming Extremely Busy Week

The week ahead is striking in the sheer number of central bank speakers, but with the Fed on hold until December and the BoJ’s new framework now revealed, focus turns squarely from central banks to US politics. The first US presidential debate at the start of the week will be a key focus.

Global Stocks Tumble, US Futures Slide On Deutsche Bank Fears, Central Bank And Commodity Concerns

While today's biggest event for both markets and politics will be tonight's highly anticipated first presidential debate between Trump and Hillary, markets are waking up to some early turmoil in both Asia and Europe, with declines in banks and energy producers dragging down stock-markets around the world, pushing investors to once again seek the safety of government bonds and the yen.

Housing Starts Tumble Despite Surging Homebuilder Confidence

While homebuilder confidence spiked this mornth to near cycle highs, Housing Starts plunged 5.8% MoM - the biggest drop in 5 months; and building permits slipped 0.4% MoM - the second monthly drop in a row. Below the surface, things are more troubling as Rental unit permits (forward-looking) dropped to April lows (perhaps the surgeing rent-flation is finally crushing demand). Worse still Single-family housing starts are the worst since October and down YoY.

US Futures, Bonds Rise, Dollar Dips As Fed, BOJ Meetings Begin

If yesterday one could "explain" the overnight stock levitation due to the move higher in crude oil, today there is no such catalyst with WTI down modestly, and yet the broader push higher across European stocks and US equities has reappeared following yesterday's muted close on Wall Street ahead of key central bank data on deck.