Despite the negative commentary offered in thereport, Teresa Chen of Barclays Capital argues that the broad trend for home prices remains on an upward path.
So, while there has yet to be any concrete evidence that the economy is actually losing steam right now, with lots of people talking about another soft patch, we will want to pay particularly close attention to the upcoming data such as the ISM reports, the jobs numbers, and thecommentary from corporations when they report earnings.
"The dichotomy between hard economic data and asset market performance continues but unlike over past weeks at least there was some justification for the rally in equity markets following the stronger than expected US April jobs report, " said a market commentary from Credit Agricole CIB in Hong Kong.