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Housing starts disappoint for 2nd-straight month - fall to 8-month low

Published 06/16/2017, 08:47 AM
© Reuters.  Housing starts disappoint for 2nd-straight month - fall to 8-month low
TBT
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TLT
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  • May housing starts fell to a seasonally-adjusted annualized rate of 1.09M - down 5.5% from April, and well short of expectations for 1.23M.
  • That rate is also down 2.4% on a year-over-year basis.
  • Stripping out multifamily, single-family housing starts in May of 794K were down 3.9% M/M, and up 2.3% Y/Y.
  • Building permits fell 4.9% M/M and 0.8% Y/Y to 1.168M.
  • Full report
  • Treasury yields have edged a hair lower since the print, with the 10-year yield now flat on the session at 2.16%. TLT, TBT both flat premarket
  • Now read: Federal Reserve Watch: What's Important?


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