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Indicator Spotlight

US Housing Beats, But Remains A Drag On Growth

by Felix-Antoine Vezina-Poirier, Chief Strategist  

June US housing data surprised to the upside, but the broader sector is still weak, reinforcing our modest underweight on equities. Housing starts rose an annualized 4.6% m/m, and building permits ticked up 0.2% after a 2.0% decline in May. Gains were…

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