US data too hot for the Fed?
NAB Morning Call
00:00
The US Housing Market Reaction to the Tightening Cycle
763,000 new homes sold in May. That's after a 3.5% lift in April. And then the consumer confidence rate from the conference board may revise up slightly to 102.5. There was an expectation of 104 for the number in June. But no, 109.7, almost at 110. The US housing data is not really what you'd be expecting to see at this point of the tightening cycle. It's some more strength. Yes.
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