Housing Starts Smash Expectations, While Core PPI Comes In HOT

The numbers:

Housing starts of 596K were well ahead of expectations.

Meanwhile, PPI came in HOT. The headline was right in line with expectations, but excluding food and energy we got a jump of 0.5% that was well ahead of expectations. The core PPI rise is the biggest jump since 2008.

Background: Alright, a whole slew of data is coming out.

Here’s the list:

*        08:30 US PPI (Jan); consensus +0.8%
*       08:30 US PPI ex Food & Energy (Jan); consensus +0.2%
*       08:30 US Housing Starts (Jan); consensus 539K
*       08:30 US Building Permits (Jan); consensus 562K

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