@ The White House
In the morning, the President will receive the Presidential Daily Briefing and meet with senior advisors in the Oval Office. These meetings are closed press.
In the afternoon, the President will meet with President Tsakhia Elbegdorj of Mongolia in the Oval Office. The two Presidents will discuss steps to expand diplomatic, economic and defense cooperation between the two nations in pursuit of a common vision for bilateral relations and Mongolia?s role in East Asian affairs.
@ Wall Street
Housing starts in May should also post a small increase, with the gains coming mostly from the multi-family category. IHS Global Insight is projecting better housing starts and permits numbers, with most of the increase coming from the multi-family category. But we only see a minor overall improvement to 540,000 units, from April's exceptionally low 523,000.
Single-family starts are stuck near the bottom, and with house prices falling and credit tight, the near-term outlook is not a good one. The only ray of hope is in the multifamily sector, where permits slipped in April but were still running slightly above what they were in 2010.
