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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Building permits were far stronger than expected in February, surging 13.8% M/M (cons 0.3) after 0.1% in Jan, led by multi-units whilst 1-unit permits increased a relatively more modest 7.6%.
- Typically less affected by weather, after unusually mild weather in Jan and Feb, they have actually come in stronger than housing starts for the past three months (retail sales +9.8% after -2%).
- Whilst strength was seen across regions except for the northeast, it was concentrated in permits in the west region surging 30% (single unit 7.6%).
- Whilst there may be some multi-unit regional distortion, the increase in permits nevertheless likely supports the near-term construction outlook and follows a turnaround in new home sales not yet seen in the larger existing home sales segment.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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