(Reuters) - The weak reading could revive some hopes among bond investors for a Federal Reserve interest rate cut in the future, although few expect any easing of monetary policy before next year.
The National Association of Home Builders' housing market index dropped to 28 in June, the lowest level since February 1991 and below economists' median forecast for the reading to remain at May's level of 30. The sentiment gauge is seen as a proxy of future U.S. housing activity.
Read more at Reuters.com Bonds News
The National Association of Home Builders' housing market index dropped to 28 in June, the lowest level since February 1991 and below economists' median forecast for the reading to remain at May's level of 30. The sentiment gauge is seen as a proxy of future U.S. housing activity.
Read more at Reuters.com Bonds News
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