Existing Home Sales Fell 2.2% In May
Existing home sales fell 2.2% to 5.66 million SAAR. Consensus was at 6.2 million. A big miss. Total housing inventory is flat at 8.3 months cover. Chart 1. Existing Home Sales
Archive for June 22nd, 2010
Lack Of Conviction
Looks like the markets similar like Belisarius exhibit lack of conviction. Maybe most interesting development is that Baltic Dry Index keeps falling lower and lover. Collapse here could serve as an advance indicator of China and commodity fall-down.. Chart 1. Baltic Dry Index Elsewhere not much happening, sort of contemplation surrounds the markets, and when we have nothing negative n the news-flow we move up on no […]
Moody’s/Real National Commercial Property Index Rose 1.7% In April
Moody’s/Real National Commercial Property Index rose 1.7% in April and it is now running at -16.4% YoY. Chart 1. Moody’s/Real National Commercial Property Index