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.
Jul 13, 2016
The Canadian Press
TORONTO -- Realtor Royal LePage says the national average home price climbed 9.2 per cent during the second quarter compared to a year ago -- the largest year-over-year gain in five years.
In its latest report, the realtor says the national average home price grew to $540,223 during the quarter, fuelled by low borrowing rates.
Royal LePage says the average price of a two-storey home rose 10.7 per cent from a year ago to $619,671.
The average bungalow price climbed 7.9 per cent to $437,121, while the average condo price was $348,189, an increase of 4.2 per cent.
The real estate agency is predicting that during the second half of the year, the average home price will increase 12.4 per cent, compared to the second half of last year.
The company says that's because the U.K.'s vote to leave the European Union will likely prevent central bankers from raising interest rates, therefore delaying any cyclical cooling of Canada's hottest real estate markets.
"Our forecasting models, which pointed to a slowing housing market as the year progressed, included a modest increase in the cost of borrowing," Phil Soper, president and CEO of Royal LePage, said in a statement.
"Economic and social disruptions have rocked the world once again, introducing new risks and making it very likely that the Bank of Canada will leave interest rates as is for now. Few industries are as rate-sensitive as real estate. We don't see even a mild correction for either the Toronto or pistol-hot Vancouver markets in 2016."