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October 16, 2025
U.S. October NAHB Homebuilders Index - Housing responding to lower mortgage rates
October 16, 2025 2:10 PM UTC
October’s NAHB homebuilders’ index of 37 is up significantly from two months at 32 and the highest level since April, if still quite weak. This suggests recent falls in mortgage rates as the Fed resumes easing are having some impact on the housing market.
Preview: CBR will Likely Hold the Key Rate Stable at 17% on October 24
October 16, 2025 1:09 PM UTC
Bottom Line: We expect Central Bank of Russia (CBR) to hold the policy rate constant at 17% during the next MPC on October 24 since the pace of the fall in inflation decelerated in September due to heightened gasoline prices after Ukraine stepped up hitting oil refineries in Russia; which could also
U.S. October Philly Fed - Details more encouraging than the weak headline
October 16, 2025 12:49 PM UTC
October’s Philly Fed manufacturing index of -12.8 has fallen unexpectedly sharply from the surprisingly strong September reading of 22.3 and is the weakest since April when tariff worries were at their peak. Detail in the report is however more positive.
UK GDP Review: Moving Sideways – At Best
October 16, 2025 6:39 AM UTC
Although the revisions up to July GDP data now confirm a small m/m fall for that month), this was unwound in the August numbers with a 0.1% rise (Figure 1). This put the less volatile three-month rate at 0.3% but we think this overstates what is very feeble momentum, which may actually be nearer zer
Indonesia’s 2026 Budget: Populist Spending Meets Fiscal Strain
October 16, 2025 6:17 AM UTC
Indonesia’s 2026 budget marks President Prabowo Subianto’s first full fiscal blueprint—anchored in expansive social spending and a sharp 30% rise in defence outlays, while sidelining his predecessor’s infrastructure push. With revenue targets based on optimistic assumptions and growth foreca