BREAKING: US house price index above expectations

US home price index came in 0.3% MoM vs 0.1% exp. and 0.1% previously (4.2% YoY vs 4.5% previously)

• US Case/Schiller 20Y came in 5.2% YoY vs 5.1% exp. and 5.9% previously
• US Redbook (sales-weighted growth in the same-store large US general merchandise retailers) came in 5.6% YoY vs 4.6% previously
• US Wholesale Inventories MoM came in -0.1% MoM vs 0.1% exp. and 0.1% previously
• US Retail Inventories Ex-Auto came in 0.1% MoM vs 0.5% exp. and 0.5% previously 

Overall data point to stronger US consumers demand, with dropping wholesale inventories, higher US Redbook growth pace, as well as higher than expected average home price index.