US macrostatistics remains mixed, but real estate market is still considered to be the main driver of the country’s economy. Laying the foundation of new housing kept growing in June (+6.9%MoM); last week mortgage credit lending rapidly rose (+16.9%), following the decline in June.
However, positive dynamics has not yet spread to other sectors of economy – production capacity load index remains within stable flat below 79%, weak dynamics of flat is also characteristic of industrial sector volume. No clear dynamics of unemployment claims is a good proof of current situation.
Consequently, it may be concluded that real estate market is rising due to the growing volume of crediting, which is not supported by corresponding growth of wages (stable 2.9%YoY).
Today’s Business Sentiment Index has remained negative. There are no tangible reasons for stock market growth, except for real estate sector. Therefore, demand for 30-year bonds is most likely to be kept.
According to Commodity Trading Department of , the situation makes it possible for calls to be sold, but this process in currently hindered by low volatility.
