Banks Warn of Growing Energy-Related Risks in Mortgage Portfolios
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
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Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
South Korea’s top financial watchdog attempted to revive optimism over the nation’s corporate reform initiatives to investors in New York while soothing concerns over the short-selling ban.
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.
May 14, 2019
BNN Bloomberg
,The demand for housing in Canada may be stronger than official data suggests, according to CIBC Capital Markets Deputy Chief Economist Benjamin Tal.
Tal told BNN Bloomberg housing demand may be underestimated because post-secondary students are being undercounted in relation to how many households are being formed.
“We need to know whether or not we are building too much or too few houses. It’s not clear, quite frankly, if you look at the overall situation,” Tal said in an interview Tuesday, arguing data that’s collected by Statistics Canada and the Canada Mortgage Housing Corporation is incomplete.
“Regardless of who measures it, we are undercounting, because we don’t take into account students – and that’s very important.”
Tal said incorrectly counting the number of students who live outside of their parents’ home for the majority of the year is problematic because it doesn’t provide a true sense of supply and demand in the country’s housing market.
He stressed it’s “extremely important” to get the data right in order to ensure the country builds an appropriate amount of homes.
“When you look at supply, you also need demand,” Tal said. “If demand is measured inaccurately, that’s a major issue because then supply will be inaccurate. So we have to be careful here – you don’t want to build too much, you don’t want to build too little – you want to make sure that we are just right.”