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Ipreo Global ECM Review: The Week Ended July 29, 2016

Ipreo Global ECM Review: The Week Ended July 29, 2016

In U.S. economic news, the MBA Mortgage Index fell 11.2% following the prior-week’s 1.3% drop, as pending home sales for June grew 0.2%, missing expectations of a 1.1% uptick. Elsewhere, U.K. mortgages dropped to 64,766 in June from 66,722 in May, below expectations of 65,500, and marked the lowest level since May 2015. Finally, Japan’s housing starts fell 2.5% on year in June, the first decline in six months, which was slightly better than economists’ forecasts of a 2.7% decrease but reversed course from the prior month’s 9.8% increase.