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.
May 4, 2016
BNN Bloomberg
,Detached home prices in Toronto rose 18.9 per cent in April, as a lack of supply in the single-family home market pushed prices higher.
The Toronto Real Estate Board said there was a four per cent drop in listings as fewer properties hit the market. Central Toronto remained the most expensive, with the average price rising to $1.98-million.
Many would-be home buyers were unable to find a home that met their needs due to the lower volume of detached listings, Toronto Real Estate Board president Mark McLean noted in a release.
“In the City of Toronto in particular, some households have chosen not to list their home for sale because of the second substantial Land Transfer Tax and associated administration fee,” McLean said in the release. “The lack of available inventory, coupled with record sales, continued to translate into robust annual rates of price growth.”
TREB director of market analysis Jason Mercer noted the organization expects home prices to continue to accelerate, as conditions remain far from balanced.
“As we move into the busiest time of the year, in terms of sales volume, strong competition between buyers will continue to push home prices higher,” Mercer said in the release. “A greater supply of listings would certainly be welcome, but we would need to see a number of consecutive months in which listings growth outpaced sales growth before market conditions become more balanced.”
It’s another sign the nation’s two hottest housing markets are showing no sign of cooling down. On Tuesday, data from the Real Estate Board of Greater Vancouver showed that benchmark prices for Vancouver's detached homes rose more than 28 per cent.