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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
- New home sales were softer than expected in January at 661k (cons 684k) after a downward revised 651k (initial 664k).
- It mean new sales increased 1.5% M/M in Jan after 7.2% in Dec, but the two monthly gains don’t yet reverse a cumulative 13% decline in the prior two months.
- There were some wild moves regionally that makes it hard to get a sense of underlying trends: northeast (72%, smallest segment), west (39%), midwest (8%), south (-16%, easily largest segment).
- Months of supply was unchanged on the month at 8.3 and remains below the 8.9 recent peak seen in Nov, but is still high compared to the 5.7-7.0 seen in January’s in 2017-19 for a pre-pandemic comparison.
- That relative supply is helping keep downward pressure on the noisy median price series, -2.6% Y/Y in January after -13.8% Y/Y in Dec.
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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