Investors will be challenged by the wealth of data and political environment this week.
The data last week did little to confirm a slowing rate of recovery reflected in the data from the prior week. The two housing sector reports were much stronger than expected after the housing start data was well below expectations. New and existing home sales jumped in August to levels not experienced in more than ten years. There is still a large amount of pent-up demand with inventories of homes on the market remaining low. This condition should drive home construction up over the next twelve months.
PROBANK AUSTIN ADVISOR - SEPTEMBER 28, 2020