Slowing Inflation Primes G-7 Central Banks for June
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
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Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts.
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
The owner of a historic office building in Manhattan’s Financial District has filed bankruptcy to sell the property, which has been subject to foreclosure and suffered from a lack of tenants due to the Covid-19 pandemic.
Nov 7, 2023
BNN Bloomberg
,Availability in the Greater Toronto Area’s office market was flat in the third quarter, according to a new report, marking one of the few occasions the metric has held steady in recent years.
Avison Young released its GTA office market report for the third quarter last week. It found the overall availability rate came in at 18.1 per cent and noted the availability rate for offices has been on an upward trend since 2020.
“This marks only the third time since Q1 (first quarter) 2020 that availability has remained flat quarter-over-quarter. Otherwise, it has consistently risen since the onset of the pandemic,” the report said.
“Stakeholders will be eyeing the market to see whether this key metric may stabilize or even begin to decrease in coming quarters.”
The overall vacancy rate was found to have risen by 50 basis points to finish the quarter at 12.5 per cent, the report said.
EDUCATION SECTOR DEMAND FOR OFFICE SPACE
Avison Young’s report found that overall demand among typical office tenants continues to be below historical levels across the GTA.
However, it said educational institutions such as public and private colleges and universities have been a source of supplemental demand for office space in downtown, midtown and the suburbs.
“Not affected by the same trends that have reduced many companies’ need for office space, educational institutions have taken advantage of the opportunity to expand their footprints in traditional office buildings,” the report said.
“Numerous transactions – both lease and sale – across the GTA have seen schools secure additional space adjacent to existing facilities as well as establishing new satellite locations.”
Newer buildings were also found to have a competitive advantage in the current GTA office market. The report noted that with a “wide range” of office space on the market, many tenants are seizing the opportunity to move to “better premises.”
As a result, the report said new buildings with modern amenities are appealing more to tenants.