Jun 18, 2025
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we lead off with a recap of the FOMC and the more important Summary of Economic Projections (page 1). We also check in on the release of the TICS data (page 2). Next, we review the latest residential construction figures (page 3) including a look at affordability (page 4). We finish with an update on the latest crude inventory readings (page 5).
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Jun 18, 2025
Yesterday, the NAHB published its latest monthly update on homebuilder sentiment. The headline sentiment index continued to deteriorate falling 2 points to 32, the lowest reading since December 2022.
In the table below, we show each component of the index in addition to its month-over-month change and how they rank as a percentile of their full histories. Indices declined for both present and future sales, resulting in each one now sitting in the bottom quartile of historical readings. The largest declines were observed in the regional data as the Northeast experienced a bottom decile monthly decline and the South experienced a bottom 1% decline.
These latest dips in sentiment come as inventories continue to rise, especially in the South and West. Homebuilder sentiment in both of these regions fell to their lowest levels since 2012 this month, and as shown below, these are the two regions where active listings (homes for sale) have spiked the most.
Jun 17, 2025
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we start with a look into the weakening technicals for the market in addition to some comments on other big movers for other assets (page 1). We check in on the big sell-off in solar stocks in addition to a look at how other alternative energy names have done (page 2). Afterward, we highlight AI capex figures (page 3), retail sales (page 4), industrial production (page 5), and New York Fed Services activity (page 6).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
