Housing starts are expected to increase to an annual pace of 1.022 million in tomorrow’s update for October, according to The Capital Spectator’s median point forecast for several econometric estimates. The projection represents a modest increase over September’s 1.017 million.
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The momentum factor in asset pricing is widely recognized and respected, but there’s nothing close to consensus on the best definitions for what is arguably the most durable “anomaly” in the markets. A quick review of the voluminous literature on the subject reveals a variety of methodologies—absolute vs. relative momentum or price-based vs. return-based strategies, for instance. But the common theme that unites all definitions and strategies in this space is a focus on trending behavior for short- to medium-term horizons. Although minds will differ on the ideal for measuring and exploiting this phenomenon, a reasonable way to begin is by comparing an asset’s latest closing price to a variety of simple moving averages.
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● German Economic Sentiment in Nov increased for the first time in 2014 | ZEW
● UK inflation rate rises to 1.3% | BBC
● Analysts: US Economy Strong Despite Drop In Oct Industrial Output | MNI
● Five more Ukrainian soldiers killed, German foreign minister visits Kiev | Reuters
● Israel: ‘We will respond with a heavy hand’ after synagogue attack kills 4 | CNN
● ECB’s Draghi: Government Bond Purchases Possible | ABC