US: Housing starts and building permits data in focus - BBH

Research Team at BBH suggests that the US reports November housing starts and building permits data today which will garner investors’ attention before the weekend. 

Key Quotes

“After October's 25.5% surge, November will pull back.  On a trend basis, it has been a respectable year for US housing starts.  The 10-month average is about 1170k this year compared with 1097k in the first 10 months of 2015 and the best since 2008.  This is a roughly a 6.5% gain.  Permits will also be released and are expected to have slipped to snap a three-month modest advance.  A quiet North American session is expected.”

“Lacker will be the first Fed official to speak since the FOMC's decision.  He is speaking shortly after midday in Charlotte.  Yellen gives a commencement speech on Monday, but it is not the forum to expand on the FOMC statement or her press conference, which she rarely does in any event.”