Wednesday, August 15, 2012

Home Builders Continue to ... Build

August NAHB housing market index of 37.0 was above the 35.0 consensus and is at a 5-year high.  Results of regional indexes were mixed.  The Midwest and the South indexes increased while those of the Northeast and West decreased.  The XHB ETF is up $0.12 or 0.53% in early reaction to the data.  While we do not have much confidence in this data, we note that it could further lower the chances of a QE3 announcement. 

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