US Credit Mkt Wk Ahead: Housing Starts, Home Sales, Durables

Repeats Story Initially Transmitted at 23:40 GMT Nov 18/18:40 EST Nov 18

     CHICAGO (MNI) - The week ahead should be rather quiet due to the

Thanksgiving holiday market closure Thursday followed by an early close Friday.

     Salient data releases in the week ahead include Housing Starts early

Tuesday followed by Home Sales midmorning Wednesday, as well as Durable Goods.

Data and Speaker highlights (estimates):

- Monday: Slow start to week for data releases with Q3 e-commerce retail sales;

NAHB home builder index. The U.S. Treasury, however, will auction $42B 13W and

$36B 26W bills on Monday.

As far as Fed speaker engagements, looks like New York Federal Reserve President

John Williams is the only one on tap with three separate events Monday. Williams

will participate in moderated discussion and answer audience questions at the

Bronx Museum of the Arts in New York at 1045ET.

- Tuesday: Oct housing starts and building permits, Philadelphia Fed Nonmfg

Index and Redbook retail sales.

Morgan Stanley economists expect "housing starts to rise 1.2% in October, a

modest gain following a larger 5.3% drop in September" citing a "5.1% gain on

the multifamily side and 0.3% decline for single family."

- Wednesday: Busiest data drop for the week includes weekly jobless claims one

day early due to Thursday's close; Oct durable goods; existing home sales;

leading indicators. The U.S. Treasury will auction $11B 10Y TIPS.

Nomura economists "expect a steady 0.2% m-o-m increase in durable goods orders

excluding volatile transportation components in October while housing starts may

rebound from a sharp decline in September. However, existing home sales will

likely slow further amid signs of some easing in housing demand."

- Thursday: Markets closed for Thanksgiving holiday

- Friday: Modest data ahead early market closure. Bloomberg comfort index; Nov

Markit Manufacturing and Services Index; St. Louis and NY Fed Real GDP Nowcasts.

Calendar of next week's market events (prior, estimate):

- Nov 19 NY Fed Pres Williams, Per Scholas project site visit, NY. 0940ET

- Nov 19 Q3 e-commerce retail sales 1000ET

- Nov 19 Nov NAHB home builder index (68.0, --) 1000ET

- Nov 19 NY Fed Pres Williams, discus'n/Q&A Bronx Arts Museum, NY 1045ET

- Nov 19 US Tsy $42B 13W bill auction (912796QY8) 1130ET

- Nov 19 US Tsy $36B 26W bill auction (912796QH5) 1130ET

- Nov 19 NY Fed Pres Williams, HERE to HERE leadership meeting, NY 1515ET

- Nov 20 Oct housing starts (1.201m, 1.230m) 0830ET

- Nov 20 Oct building permits (1.270m, 1.264m) 0830ET

- Nov 20 Nov Philadelphia Fed Nonmfg Index (37.6, --) 0830ET

- Nov 20 17-Nov Redbook retail sales m/m (0.2%, --) 0855ET

- Nov 21 16-Nov MBA Mortgage Applications (-3.2%, --) 0700ET

- Nov 21 17-Nov jobless claims (216k, 215k) 0830ET

- Nov 21 Oct durable goods new orders (0.8%, -2.7%--) 0830ET

- Nov 21 Oct durable new orders ex transport (0.1%, 0.4%) 0830ET

- Nov 21 Nov Michigan sentiment index (f) (98.3, 98.3) 1000ET

- Nov 21 Oct existing home sales (5.15m, 5.19m) 1000ET

- Nov 21 Oct leading indicators (0.5%, 0.0) 1000ET

- Nov 21 Q2 QCEW employment 1000ET

- Nov 21 16-Nov crude oil stocks ex. SPR w/w (1.03m bbl, --) 1030ET

- Nov 21 US Tsy $11B 10Y TIPS auction (912828Y38) 1130ET

- Nov 21 16-Nov natural gas stocks w/w (39.0Bcf, --) 1200ET

- Nov 21 14-Nov Fed weekly securities holdings 1630ET

- Nov 23 18-Nov Bloomberg comfort index 0945ET

- Nov 23 Nov Markit Mfg Index (flash) (55.9, --) 0945ET

- Nov 23 Nov Markit Services Index (flash) 0945ET

- Nov 23 Q4 St. Louis Fed Real GDP Nowcast 1100ET

- Nov 23 Q4 NY Fed GDP Nowcast 1115ET

--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

--MNI Chicago Bureau; tel: +1 312-431-0089; email: bill.sokolis@marketnews.com

[TOPICS: MTABLE]