US June housing starts 1.353M vs 1.300M expected

• Prior was 1.277m (revised to 1.314m)
• Single family -2.2%
• Multifamily +19.6%
• Permits 1.446m vs 1.395m prior

Yesterday’s NAHB number was a bit better and long end yields fell yesterday near a three-month low. Home builder stocks absolutely shot higher as the market senses a bottom in the cycle.

This article was written by Adam Button at www.forexlive.com.