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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
- Both building permits and housing starts saw an ultimately sizeable miss in June but with some caveats.
- Housing starts fell to 1434k annualized (cons 1480k) after a downward revised 1559k (initially 1631k), translating to a -8% decline after what was thought to have been a 21.7% jump in May was revised to a still strong 15.7%.
- Single family starts fell -7% after +18.7%, multi-unit starts -9.9% after +10.6%. Declines were seen across major regions but heaviest in the Midwest.
- Building permits meanwhile offered a cleaner read of an overall miss, falling -3.7% M/M (cons 0.2) after a strong 5.6% M/M increase.
- However, the decline in permits was driven by multi-unit (-12.8%, and seemingly led almost entirely by the Northeast) whilst single family permits increased 2.2% for a fifth consecutive monthly increase as they continue the disconnect seen with multi-units.
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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