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On the SPOT™ blog (06/20/2023) [C..]

Housing data for May released this morning seems upbeat. New home construction jumped more than expected. Home builders are sounding +ve about the demand at the moment. This is good news for the economy but perhaps too early to draw any conclusions. Nevertheless, it is a +ve sign. It remains to be seen what impact this would have on the inflation. Some Fed officials are scheduled speak this week (including Federal Reserve Chairman's Congressional testimony due tomorrow). China cut its lending rate less than expected. Looks like there is some profit-taking after the long weekend as all three major US indices are in the red this morning (PST).

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