In two reports from the Census Bureau this morning, it was disclosed that Housing Starts rose by a robust 17.3% in June and that was more than double the upwardly-revised 8.2% gain that was posted in May. But, as robust as last month’s activity was, it still fell short of the predicted pick-up of 22.2%.
For new Building Permits, that measure slowed to a 2.1% gain in June on the heels of May’s torrid 14.1% boost. Analysts expected June to notch a 6.3% rise. A little later this morning, the University of Michigan will announce the preliminary results of its Survey of Consumer Sentiment and some, slight improvement may be seen.
In the meantime, equity markets in America appear to be ready to regain some of the ground lost in yesterday’s sell-off while prices in the Treasury market are edging a little bit higher. The Ten-Year’s yield is around 0.6% and the Long Bond has slipped below 1.30%. Crude oil is little changed at around $40.50 while gold has risen a bit to $1,808.