Big Funds Bet the ‘Anything But Bonds’ Trade Is Poised to End
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.
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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.
Deutsche Bank AG has entered a capital-relief deal with the European Investment Bank that allows the German lender to grant discounts on more than €600 million ($652 million) of green mortgages in its home market.
Feb 14, 2018
Reuters
,OTTAWA - Canadian home prices rose in January, supported by continued gains in Vancouver and as prices in Toronto climbed for the first time in six months after being hurt by provincial government moves to cool the market, data showed on Wednesday.
The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices rose 0.3 per cent in January from a month earlier.
But on a year-over-year basis, the pace of gains continued to decelerate. Compared to last January, prices were up 8.7 per cent, the smallest 12-month rise since May 2016.
The monthly advance came as just four out of 11 cities surveyed saw price gains, the first time in two years that the index has had such small breadth, the report said.
Vancouver led the way, rising 1.2 per cent to a fresh peak. It was the second consecutive increase for Vancouver, the country's most expensive housing market.
Toronto edged up 0.2 per cent, driven entirely by higher costs for condominiums, Teranet said. The Ontario government last year implemented a number of measures, including a foreign buyers tax, to rein in prices in Toronto and the surrounding area, though other data have suggested prices are stabilizing.
In Vancouver, where the provincial government implemented its own foreign buyers tax in 2016, gains in condo prices have outpaced those of other types of residences over the past nine months. Condos prices surged 18.2 per cent during that time, compared to a 11.4 per cent gain for other homes.