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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
- Existing home sales were on balance as expected in September, falling a slightly smaller -1.5% M/M after a larger than first thought -0.8% M/M in Aug.
- Annualized sales of 4.71M (cons 4.70M) are the lowest since 2012 when looking outside the Apr-May’20 depths of the pandemic as mortgage rates approaching 7% bite. The NAR sees the pace potentially slowing to 4.5M.
- However, with months of supply plateauing at 3.2 vs pre-pandemic levels closer to 4, the market remains tight and continues to help support prices with the median price growth holding at 8.4% Y/Y.
- Indeed, "The current lack of supply underscores the vast contrast with the previous major market downturn from 2008 to 2010, when inventory levels were four times higher than they are today.”
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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