Institution: US Nonfarm Payrolls Report Exceeds Expectations, Market Reacts Mildly
ChainCatcher news, according to Golden Ten Data, Florian Ielpo of Swiss Lombard Odier Investment Managers believes that this is a fairly "perfect" employment report. The data is stronger than expected, but not excessively so, and it does not directly reflect inflationary pressure. The market has reacted relatively mildly, and from a medium-term perspective, this report is quite positive for risk assets, especially as investors remain cautious about potential inflation risks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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U.S. existing home sales fall to a 16-year low as high interest rates and inflation continue to suppress housing demand
In October, U.S. existing home sales declined by 5.5% month-on-month, with the annualized rate dropping to 3.75 million units, the lowest since 2010. In the Western region, sales fell to the lowest level since record-keeping began in 1999. Mortgage rates above 7% and persistently high inflation are the main reasons for this downturn. Meanwhile, existing home inventory for sale in October rose to the peak level seen in the same period of 2019, and price momentum has significantly weakened. According to the NAR chief, once interest rates turn around, suppressed homebuying demand could erupt all at once.
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