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BMO's Aaron Kohli noted US existing...>

US DATA REACT
US DATA REACT: BMO's Aaron Kohli noted US existing home sales for November "were
much stronger than expected at 5.81 million vs. consensus of 5.53 million and
against an upwardly revised 5.50 million in October. That led the MoM print to
jump to 5.6% from a prior read of 2.4%. Supply of homes dipped to 3.4 months
from 3.9, an all time low."
- He adds that such "gains were broad based with condos and single family sales
both up strongly. Existing home sales make up the bulk of home sales in the US
by far and are a more stable barometer of the housing market than new home sales
and the construction figures (starts & permits) that were released yesterday.
Treasuries are mostly moving sideways on the release."

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