Housing and PPI 'gets no respect'

February 18, 2015 10:16 AM

On initial review, there is little to like in the Housing Starts and Permits, though the revision of last MoM was significant -1.9% to 0.0. Otherwise, the PPI data was weaker than expected across categories.

Eurodollars and Treasuries NOT well higher following these reports. This could be an indication that market participants are a bit off-side long. More likely, the importance of the FOMC minutes release later today has lessened the impact from this news.


 

About the Author

Martin McGuire, managing director at TJM Institutional Services