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.
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.
Sep 21, 2020
Bloomberg News
,Canadian new home prices recorded their sharpest one-month gain in three years with higher demand and rising costs for building materials.
Prices rose 0.5 per cent in August, Statistics Canada said Monday in Ottawa. That’s the biggest increase since May 2017. Gains were recorded in most of the country’s big metropolitan centers.
The data are consistent with other indicators showing Canada’s housing market hitting new all-time highs in recent months as pent-up demand for homes combines with tight inventory levels and historically low interest rates.
The statistics agency said shortages for lumber and other building materials are driving up construction costs this year, a situation it expects will persist. It cited homebuilders as saying record high lumber prices this year will probably add $5,000 (US$3,770) to $10,000 to the cost of a single family home.
Vancouver recorded a 1 per cent gain in August, while Toronto was up 0.3 per cent. From a year earlier, new house prices have increased 2.1 per cent, the largest year-over-year gain since March 2018.
The new housing price index measures the change in the sale price of new single, semi-detached and row houses, but excludes condos.