U.S. jobs, housing data reinforce rate rise scenario
Expectations of an interest-rate increase in the U.S. this year rose as jobs and housing data confirmed recent strength in those sectors. Initial claims for jobless benefits last week fell below expectations, and this month’s National Association of Home Builders/Wells Fargo Housing Market Index is at its highest point since 2005. However, a separate index of manufacturing activity added a sour note with evidence of continuing weakness.