Nomura economists eyed the..........>

US DATA PREVIEW: Nomura economists eyed the Wednesday 10:00 a.m. ET November US

pending home sales, and noted "pending home sales rose strongly in October by

3.5% m-o-m, with a sharp pickup in the South of 7.4%, which likely reflected

pent-up demand following the recent inclement weather in the region." 

- "Consistent with a strong increase in October in pending sales, which track

contract signings, November existing home sales rose robustly with broad-based

strength across regions," they said. 

- "As it can typically take 4 to 8 weeks for contracts to close, it is possible

that November existing home sales reflected the lagged effect of the hurricane

recovery. Incoming data so far point to a stronger-than-expected boost from

hurricane recovery activity on private residential fixed investment," they said.

"That said, pending home sales could show another decent increase in November.

However, as the sharp rebound in the South looks unsustainable, some mean

reversion would not be surprising."