Glossary

Housing Market Index (HMI)

The NAHB/Wells Fargo monthly survey of US homebuilders, scored from 0 to 100 from their ratings of current sales, expected sales and buyer traffic. Below 50, pessimists outnumber optimists. Released at 10:00 a.m. ET in the third week of the month, it moves homebuilder stocks and Treasury yields because housing is the most rate-sensitive part of the economy.