Read the highlights of this week’s commentary from Helios:
Both the Bloomberg US Aggregate and the S&P 500 broke three-week losing streaks, with the Bloomberg US Aggregate gaining 0.61% and the S&P 500 gaining 6.46% for the week.
The University of Michigan’s Consumer Sentiment Index’s final June figures were slightly lower than the preliminary figure (50.0 vs. 50.2) though still at a record low. However, underlying the report showed the five to 10 year inflation expectations are actually slightly lower (3.1%) than the preliminary reading (3.3%).
New single-family home sales increased 10.7% in May, the first monthly gain of the year, despite concerns over rapidly rising mortgage rates pushing up the monthly cost for buyers and dwindling the number of potential buyers at each price point.
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