Do resi security? How about those housing numbers?
The good news is that a leading index of builders' confidence went up. The bad news? They think the market still stinks. Guess that's good in the sense that they haven't lost their marbles. I mean, if those builders thought the market was really great all of the sudden, you might wonder what kind of punch those builders were quaffing, no? Here's the WSJ story. The Commerce department will be releasing more data this week. Tomorrow we'll have housing starts and building permit data. The home builders' index will likely rise to 19 in August from 17 in July. The MarketWatch consensus calls for starts to rise about 2% to a seasonally adjusted annual rate of 596,000 from 582,000 in June. See what happens tomorrow.