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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 NAHB housing market index surprisingly fell to 45 (cons 50) in May from 51, for its lowest since January.
- There was a 4pt decline in prospective buyer traffic (to 30, lowest since Jan), a 6pt decline in present sales (to 51, lowest since Jan) and a 9pt decline in future sales (to 51, lowest since Dec).
- Regionally, the overall index decline was led by the West (-12pts, largest decline since Jul’22), followed by the Northeast (-7pts), South (-5pts) and Midwest (-1pt).
- Broader homebuilder sentiment remains notably at odds with S&P 500 homebuilder price to book ratios.
- “We are also concerned about the recent codes rules that require HUD and USDA to insure mortgages for new single-family homes only if they are built to the 2021 International Energy Conservation Code. This will further increase the cost of construction in a market that sorely needs more inventory for first-time and first-generation buyers.” – NAHB Chairman Carl Harris.
- “The last leg in the inflation fight is to reduce shelter inflation, and this can only occur if builders are able to construct more attainable, affordable housing.” – NAHB Chief Econ Robert Dietz
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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