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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
- Building permits disappointed in July at 1396k (cons 1425k) after a mildly upward revised 1454k (1446k).
- It left them down 4% M/M after a 3.9% increase in June, led by a sharp pullback in multi-units after a spike (-11% after 16%) whilst single family units held onto prior declines (-0.1% after -1.8%).
- The June increase remains somewhat of an anomaly – the only increase in the past five months – during which permits have fallen 11% for post-pandemic lows.
- It sees the overall level of starts back almost exactly in line with the 2019 average although this won’t help alleviate housing pressures from stronger population growth since then.
- Noisier housing starts data were more disappointing again with -6.8% M/M (cons -1.5) after a downward revised 1.1% increase (initial 3.0%).
- Starts saw the polar opposite compositional story though, with single unit dwellings tumbling -14% vs multi-units +14.5%.
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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