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.
Apr 1, 2024
The Canadian Press
The Calgary Real Estate Board says March home sales were up 9.9 per cent from last year as interprovincial migration to Alberta contributed to tight market conditions.
The board says 2,664 units changed hands last month, while the benchmark price across all home types was $597,600 for March — up 10.9 per cent from a year earlier and two per cent from February.
Relatively more affordable housing types, such as row and apartment-style homes, saw the most significant year-over-year price gains.
New listings fell 4.3 per cent to 3,172 and there were 2,532 units in inventory, 22 per cent lower than last year and half the levels traditionally seen in March. The board says inventory levels declined the most for homes priced below $500,000.
Ann-Marie Lurie, chief economist at CREB, says conditions for March have not been this tight since 2006, which also marked the last time Calgary experienced high levels of interprovincial migration.
Properties were on the market for an average of 20 days before selling in March, down 24.3 per cent from last year.
This report by The Canadian Press was first published April 1, 2024.