May home approvals up 5.5%; “still bumping around decade lows”

Summary: Home approval numbers up 5.5%% in May, more than expected; 8.5% lower than May 2023; Westpac: still bumping around decade lows; ACGB yields rise modestly; rate-rise expectations firm; ANZ: may see more modest growth in unit approvals in next month or two; house approvals up 1.3%, apartments up 14.2%; non-residential approvals down 0.9% in dollar terms, residential alterations down 6.2%. Building approvals for dwellings, that is apartments and houses,...

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