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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
The October Housing Starts and Permits data were a little better than expected, especially when taking into account upward revisions to the former.
- But as with the NAHB data yesterday (see our notes here and here), the bigger picture is the overall deterioration in housing activity - this is the lowest building permits reading since August 2020.
- Historically, permits have been a leading indicator for turns in overall economic activity and the labor market - the Q1 peak suggests likewise in the broader economy and employment by mid-2023.
Source: BLS, Census Bureau, MNI
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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