Housing starts are expected to total 1.083 million units (seasonally adjusted annual rate) in tomorrow’s update for May, according to The Capital Spectator’s average point forecast for several econometric estimates. The projection represents a moderate decline in residential construction vs. April.
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The US equity market has regained front-runner status for the trailing one-year return (250 trading days) among the major asset classes, but the edge is looking considerably less impressive compared with the glory days of recent years. In fact, rolling one-year returns overall are a diminished lot lately, based on our standard set of ETF proxies that track broad measures of the global opportunity set. There are fewer positive returns for the trailing 250-day period while the performance histories that are still in the black reflect relatively modest gains  vs. recent history. In short, earning a risk premium isn’t getting any easier.
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● US Airstrike in Libya Targets Planner of 2013 Algeria Attack | NY Times
● US Consumer sentiment rebounds in early June | CNBC
● U.S. Producer Prices Climb as Oil Stabilizes | WSJ
● Greece Enters Fateful Week as Brussels Talks End Fruitlessly | Bloomberg
● U.S. gas prices rise but appear to be peaking: survey | Reuters
● Eurozone merchandise exports rise 9% in April 2015 vs. year ago | Eurostat