U.S. housing starts rebounded 6.8% to a 914k rate in May U.S. housing starts rebounded 6.8% to a 914k rate in May after a 14.8% drop in April to 856k (revised from 853k) and March's 3.7% gain to 1.005 M (revised from 1.021 M). Building permits fell 3.1% to 974k from a revised 1.017 M (was 1.017 M). Single family starts were up 0.3% after April's 4.2% decline. Multi-family starts climbed 21.6% following -32.2% in April. The headline pace are a little below expectations, but the report still reflects the improvement in the sector.
Fed funds opened at 0.10% Fed funds opened at 0.10% after a like close last night. Monday's rate ranged from 0.05% to 0.3125% with a 0.11% effective. Interbank borrowing rates were mixed at today's Libor fixing. The overnight dollar Libor rate dipped to 0.12830% from 0.13080%. The 1-week rate edged up to 0.15981% from 0.15901%. The 3-month rate slipped lower to 0.27225% compared to yesterday's 0.27325%. The 12-month rate was flat at 0.66810%.
JPMorgan's internet analyst holds an analyst/industry conference call Internet Analyst Anmuth discusses search and online advertising trends with Eric Papczun, President of Performics and Mark Ballard, Senior Research Analyst of Rimm-Kaufman Group, on an Analyst/Industry conference call on June 21 at 11 am.
JPMorgan's Mexico strategist holds an analyst/industry conference call Mexico Strategist Cristiani, along with Duncan Wood, Director of the Mexico Institute for the Woodrow Wilson Center, discuss Mexico's economy on an Analyst/Industry conference call on June 18 at 10 am.