Scoreboard: Home comfort

Wall Street was flat as surging US house prices and a eurozone growth upgrade balanced other disappointing data.

Global equities did little overnight, but then again they did hold onto those solid gains made in the previous session. That may not sound like much of an achievement, but when you consider that most data indicators turned down, it’s pretty good. I say most indicators as not all turned down – in particular US house prices continue to surge, rising 0.8 per cent in December to be 13.4 per cent higher over the year. That’s the largest annual gain since 2005 and there is of course no reason to expect that momentum slow.

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