Free Trial

Pending Home Sales Surprisingly Hold Onto January Jump

US DATA
  • Pending home sales were stronger than expected in February, rising 0.8% M/M (cons -3%) with no payback after jumping 8.1% M/M in Jan.
  • Its leading nature helps support the surprise strength in US existing home sales after they surged 14.5% in Feb, in further evidence of what looked like a bottoming in housing market activity in the months just prior to regional banking woes.
  • Latest weekly bank credit data, which only capture the early days of the fallout with the week to Wed Mar 15, didn't show a material tightening in gross loan books and instead saw an increase across various loan categories including residential real estate.

To read the full story

Close

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.