US PPI rose 0.5% mom, 2.1% yoy in January, well above expectation of 0.2% mom, 1.4% yoy. PPI core rose 0.5% mom, 1.7% yoy, also well above expectation of 0.2% mom, 1.2% yoy.

Building permits rose 9.2% mom to 1.551m annualized rate, above expectation of 1.450m. Housing starts dropped -3.6% mom to 1.567m, above expectation of 1.390m.

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