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On tap for Thursday: Weekly.........>

US DATA PREVIEW
US DATA PREVIEW: On tap for Thursday: Weekly claims; February imports/exports
price indexes; January new home sales.
- On new home sales, Nomura economists "expect a 1.9% m-o-m increase in new home
sales to 633k in January. The volume of mortgage applications jumped in January
and the NAHB single-family homebuilder index rebounded, suggesting that sales
activity may have improved in the month."
- Deutsche Bank economists estimate an increase of sales from latter 621k to
630k. DB notes "new home sales are
one of the most volatile releases and highly prone to revision, especially
during the winter months. In our view, the nearly 50 basis-point decline in
30-year mortgage rates since their peak last November should provide a modest
tailwind to the housing sector as we move into the spring selling season."

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