Tuesday, November 17, 2015

Wednesday: Housing Starts, FOMC Minutes

by Bill McBride on 11/17/2015 08:40:00 PM

Congress might shut down the government in December, from the WSJ: House Speaker Ryan Warns of Budget, Guantanamo Bay Confrontations With White House

Spending legislation needed to avoid a government shutdown in December must include Republican policy measures in order to pass Congress, House Speaker Paul Ryan (R., Wis.) said Tuesday.

Mr. Ryan didn’t rule out the possibility of a lapse in government funding when its current funding expires on Dec. 11, saying Republicans will force President Barack Obama to accept some conservative provisions, known as “riders” in the sweeping spending bill.

“There will have to be some riders in this for us to pass it through Congress,” Mr. Ryan said ...
Shutting down the government is a bad idea.

• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:30 AM, Housing Starts for October. Total housing starts increased to 1.206 million (SAAR) in September. Single family starts increased to 740 thousand SAAR in September. The consensus for 1.162 million, down from September.

• During the day, the AIA's Architecture Billings Index for October (a leading indicator for commercial real estate).

• At 2:00 PM, the Fed will release the FOMC Minutes for the Meeting of October 27-28, 2015