From the monthly archives:
We just got the latest data on home construction. Here’s a recap of what they showed:
* Overall housing starts dipped to 581,000 in July from 587,000 in June. That 1% decline left starts running a bit below the average forecast of economists (599,000). Building permit activity slumped to a seasonally adjusted annual rate of 560,000 [...]
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We just got the latest figures on housing from the National Association of Home Builders. Here’s what they showed …
* The group’s index of builder sentiment climbed to 18 in August from 17 in July. That matched the average forecast of economists polled by Bloomberg. It’s also the highest reading we’ve seen since June 2008.
* Among the subindices [...]
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The July jobs report just hit the tape and I have to say, it came in “hot.” The details are as follows:
* Nonfarm payrolls fell by 247,000 last month, much smaller than the average forecast for a reading of -325,000. June’s number was revised down to -443,000 from -467,000 and May’s reading was revised down [...]
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The Treasury Department just released the details of its next round of debt auctions. It looks like we’ll get $37 billion in 3-year notes on Tuesday, $23 billion in 10-year notes on Wednesday and $15 billion in 30-year bonds on Thursday. Treasury also admitted that auction sizes will rise “gradually” in the medium term, and [...]
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The National Association of Realtors just released the latest data on pending home sales. The June figures continued the recent trend of improvement …
* Pending home sales climbed 3.6% in June. That was much better than the 0.7% gain that economists were expecting. Last month’s 0.1% gain was also revised higher, to 0.8%.
* On a [...]
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What a day! The bond market is getting crushed and the dollar is falling off a cliff thanks to strong global economic data. The CLSA China Purchasing Managers’ Index got things going overnight when it rose to 52.8 in July from 51.8 in June. That’s the highest reading in a year. Then a few minutes [...]
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