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Higher-than-expected interest rates amid persistent inflation are perceived as the biggest threat to financial stability among market participants and observers, according to the Federal Reserve.
Fifth Third Bancorp jumped the most in four months, leading bank stocks higher, with Chief Executive Officer Tim Spence predicting that income from lending has bottomed out.
China’s securities regulator said it will encourage the nation’s companies to list in Hong Kong as it unveiled a package of measures to bolster the city’s position as an international financial hub.
Hong Kong’s accounting regulator said it will investigate allegations over PricewaterhouseCoopers LLP’s role auditing China Evergrande Group following a “whistleblower report”.
Hudson Bay Capital Management has raised over $800 million to invest in so-called special opportunities, according to a person with knowledge of the matter.
Sep 17, 2018
, Bloomberg News
Canada’s housing market showed continued signs of stabilizing in August, with sales rising for a fourth straight month and prices easing.
The number of transactions rose 0.9 per cent from July to 39,366 units, the Canadian Real Estate Association said Monday from Ottawa. Sales in Toronto, the nation’s biggest city, advanced 2.2 per cent and rose 2.9 per cent in Vancouver.
The housing market is recovering from steep sales declines early this year after the federal government imposed tougher mortgage lending rules and the central bank raised borrowing costs. Home sellers also seem to be lowering prices for homes, fueling demand.
Benchmark home prices fell by 0.6 per cent on the month, the biggest decline since August 2017. That was driven by Vancouver, where prices dropped 1.4 per cent, the biggest one-month fall since 2008. Toronto home prices were down 0.3 per cent in August.
“Improving national home sales activity in recent months continues to obscure significant differences in regional trends for home sales and prices,” Gregory Klump, CREA’s chief economist, said in the statement.
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