All Eyes On Fed With Critical Week Of Housing Data Ahead
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- US equity markets retreated from all-time record highs set last week. With all eyes on the Fed, investors aren’t sure whether “good news is bad news” or vice-versa.
- Economic data was mixed this past week with retail sales beating estimates, but housing data remaining choppy. Homebuilder sentiment beat estimates but housing starts and permits remain soft.
- Home construction has seemingly sputtered just as the largest demographic wave in America enters the housing markets in full-force, putting continued upward pressure on home prices and rents.
- With a critical week of New and Existing Home Sales data ahead, a particularly strong or weak print could have significant implications for the magnitude of the Fed rate cut.
- REITs delivered their third-worst week of 2019. Real estate earnings season started on a high-note, however, with another stellar quarter from logistics giant Prologis.
