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.
Jun 2, 2021
BNN Bloomberg
,Home prices in the country's largest real estate market have reached a new all-time high, even as sales pulled back in May.
The average price of all homes sold across the Greater Toronto Area (GTA) reached $1,108,453 last month, according to data released by the Toronto Regional Real Estate Board (TRREB) Thursday. The previous record was set in March, at just shy of $1.1 million.
The record was notched despite a break from a trend that TRREB noted has often made May the busiest month for sales in Toronto's housing market. Almost 12,000 properties traded hands across the GTA last month; while that represented a 160 per cent surge from a year earlier, it was a downturn from April when 13,663 homes were sold.
In a release, TRREB indicated tighter inventory was largely responsible for propelling prices to all-time highs in May. Indeed, active listings in the month rose just seven per cent year-over-year.
"...people actively looking to purchase a home continue to face a lot of competition from other buyers, which results in very strong upward pressure on selling prices. This competition is becoming more widespread with tighter market conditions in the condominium apartment segment as well," said TRREB Chief Market Analyst Jason Mercer in a release.
There was a consistent theme in the activity across all property types in May, as sales of detached houses, semi-detached houses, townhouses and condos more than doubled on a year-over-year basis but slumped when compared to April.
Meanwhile, Canadians' willingness to pay up for more space was evident as the average selling price for a coveted detached home in the GTA reached $1,415,698 in May; that was a modest increase from April and a 37 per cent surge compared to a year earlier.