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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
- Today’s pending home sales data were slightly stronger than expected, rising +0.3% M/M in June (cons -0.5%) after -2.5%, but still reinforced the difference in the recoveries seen in new and existing home sales since mortgage rates peaked in late 2022.
- New home sales have rebounded back to the 2019 average whereas existing home sales are still 20% lower and more than 25% lower in case of pending sales.
- As we touched on yesterday (see here), greater relative supply of new home sales has allowed prices to correct at faster pace and helped support 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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