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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
[Correcting to add "Surge" in title]
- New home sales were far stronger than expected in August, surging 28.8% M/M (cons -2.2%) after a smaller than first thought -8.6% (initial -12.6%). With relatively little change in listing numbers, months of supply shrank from 10.4 to 8.1 for the lowest since March.
- North-east sales jumped a particularly eye-catching 67% M/M but gains were extremely strong across other regions so it’s not just a regional quirk.
- However, some note a potential distortion from methodology dealing with cancellations: “As a result of our methodology, if conditions are worsening in the marketplace and cancellations are high, sales would be temporarily overestimated”.
- Being at odds with existing home sales declining -0.4% in August after July’s -5.7%, it adds attention on tomorrow’s pending home sales..
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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