While housing demand will probably continue to moderate from the torrid pace seen in the last few years, housing starts should remain well-supported in the coming months, as builders' backlogs remain near record levels and rebuilding along the Gulf Coast will eventually boost activity.
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I do not expect to see the Fed let its guard down on inflation any time soon even though the worst fears of energy pass-through have not come to pass.Stephen Stanley
The question is, How much of this feeds through all the way down the production process Do companies end up having to swallow the cost increases or can they pass it through
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This report is huge in the big picture, ... With the election over and this good news on jobs we could at last see an unleashing of animal spirits in the economy.
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The big picture is still that 10-year yields are up 100 basis points (1 percentage point) in basically a month, so to see a 5- or 10-basis-point pullback is not a big deal. It's just a wiggle on the charts. You will get wiggles here and there, and whether it's driven by surprises in economic data, or in geopolitics, oil prices or stocks is anyone's guess.
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It is definitely clear that (housing) is one area where you will see less growth,
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The employment number will be the key for the stock market next week.
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