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US housing data weakens as Fed weighs further rate hikes
September data showed US home sales, construction and builder sentiment all falling more than expected. The 10-year Treasury yield moved lower after the reports as investors looked ahead to the Federal Reserve's rate decision next week.
Why it matters
Weak housing could influence the Fed's interest rate path, which affects borrowing costs worldwide.
Background
The Federal Reserve has been weighing rate increases as energy costs push up inflation. High mortgage rates have weighed on the US housing market.
The story so far
- US housing data weakens as Fed weighs further rate hikes
- Fed expected to hold rates
- Fed holds rates at 3.75-4% as inflation runs high
- US economy grows 3.4% as Fed holds rates
- US adds 165,000 jobs in October; unemployment falls to 4.1%
- US adds 165,000 jobs in October
Sources
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